U.S. Treasury Secretary Henry Paulson visited the St. Louis manufacturing plant and North American headquarters of FKI Logistex on Friday, May 11. The secretary's visit followed a joint announcement by Paulson and President George W. Bush that the Bush administration is actively seeking more direct foreign investment in the United States.
FKI Logistex is a division of Loughborough, U.K.-based FKI plc. Paulson cited the company's U.S. presence as an example of how foreign capital works to America's advantage. FKI Logistex employs more than 1,500 U.S. workers, and has manufacturing operations in Missouri, California, Ohio, Tennessee and Kentucky.
"FKI Logistex is a global leader," said Paulson in his address to the more than 250 FKI Logistex employees at the event in St. Louis. Paulson cited FKI Logistex's laser-cutting machinery, low-cost palletizers, and global conveyor project-all developed in the United States-as examples of overseas investment contributing to both the U.S. and global economies.
"A global economy demands a responsive and productive global supply chain," said Steve Ackerman, president, FKI Logistex North America, during his introduction of Paulson. "This is much more than the boats, aircraft, trains and trucks that carry goods. A global supply chain requires fast and accurate automated material handling solutions like those we develop and integrate for our customers around the world. Our technology is a key enabler of an open, global economy."
Source: FKI Logistex.