Carlisle Companies Announces Plans for New Polyiso Insulation Manufacturing Facility in Sikeston, Missouri

Rhea-AI Summary

Carlisle Companies (NYSE: CSL) plans to invest over $60 million to build a new manufacturing facility in Sikeston, Missouri. This 445,000 square foot facility, the 50th for Carlisle’s Construction Materials segment, is aligned with its Vision 2025 strategy aimed at fostering organic growth and creating local jobs. The facility will produce energy-efficient polyiso insulation, enhancing supply chain efficiency and reducing carbon footprint. Construction is expected to start in summer 2021, with operations beginning in Q1 2023.

Positive

• Investment of over $60 million for a new manufacturing facility.
• Creation of jobs in Sikeston, Missouri.
• Production of energy-efficient polyiso insulation, supporting sustainability.
• Facility will reduce carbon footprint and improve supply chain efficiencies.
• Aligned with the Vision 2025 strategy, which aims for high shareholder returns.

Negative

• None.

Carlisle Companies Incorporated (NYSE:CSL) announced today plans to invest more than $60 million to build an innovative, state-of-the-art manufacturing facility in Sikeston, Missouri. Consistent with Carlisle’s Vision 2025 strategy to invest in high-returning businesses, the plant will support organic growth initiatives and also create jobs for the city of Sikeston and surrounding communities. This 445,000 square foot facility will be the 50th for Carlisle’s Construction Materials segment, CCM, a diversified manufacturer and supplier of premium, energy-efficient building products and related technologies for the commercial and residential construction markets.

CCM’s new facility will be constructed in accordance with the latest advances in LEED building and ESG principles. Additionally, this central location will both reduce the carbon footprint of CCM’s supply chain and improve material lead times for customers in this region where the use of insulation in the building envelope is steadily increasing. At this new facility, CCM will manufacture energy-efficient polyiso insulation, which not only lowers energy costs for building owners and operators, but also helps reduce a building’s GHG emissions.

Construction is planned to commence in the summer of 2021, with the first phase of the facility expected to be operational by the first quarter of 2023.

Chris Koch, Chairman, President and Chief Executive Officer, said, “I am extremely pleased to announce this investment in CCM and in the state of Missouri, which demonstrates our continued commitment to be a leading supplier of innovative products for energy-efficient buildings, utilizing ESG principles in our processes and products, and delivering the premium Carlisle Experience to our customers.

“In addition, CCM's sustainable cash generating abilities provide Carlisle with the financial and strategic flexibility that supports our conviction in achieving Vision 2025. This new facility is not only an opportunity to bring more jobs to the area, but it allows CCM to better meet the needs of our customers in this important and growing region. Today’s announcement confirms that we are at the leading edge of innovation and manufacturing excellence, helping CCM shape the future of the industry.”

Nick Shears, President of CCM, said, “The new polyiso facility adds to our industry-leading capabilities and represents the company’s ongoing commitment to delivering a world-class customer experience. It is strategically located to better serve the central U.S. and will result in improved service for CCM customers in the region. The production of energy-saving insulation and reduction of shipping lanes are both important to Carlisle’s ESG leadership position.”

About Carlisle Companies Incorporated

Carlisle Companies Incorporated is a diversified industrial company with a global portfolio of niche brands that delivers energy efficient and highly engineered products and solutions for its customers. Driven by our strategic plan, Vision 2025, Carlisle is committed to generating superior shareholder returns by investing in high-ROIC businesses and maintaining a balanced capital deployment approach, including investments in our businesses, strategic acquisitions, share repurchases and continued dividend increases. Carlisle is headquartered in Scottsdale, Arizona. Its worldwide team of employees generated $4.2 billion in revenues in 2020.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210420006013/en/

FAQ

What is Carlisle Companies' investment in Sikeston, Missouri?

Carlisle Companies is investing over $60 million to build a new manufacturing facility in Sikeston, Missouri.

When is the construction of the new manufacturing facility expected to start?

Construction is planned to commence in summer 2021.

What will the new facility produce?

The new facility will manufacture energy-efficient polyiso insulation.

How will the new facility benefit Carlisle Companies?

The facility will support organic growth, create jobs, and enhance supply chain efficiency.

When is the new facility expected to be operational?

The first phase of the facility is expected to be operational by Q1 2023.