HNI Corporation to Open Seating Manufacturing Facility in Saltillo, Mexico

Rhea-AI Summary

HNI Corporation (NYSE: HNI) is set to open a new office furniture manufacturing plant in Saltillo, Mexico. The 160,000 square foot facility aims to enhance production capacity to meet rising customer demand for office seating. With regulatory approval, it is predicted to employ 250 workers and commence operations in Q1 2022. HNI is collaborating with American Industries and the local government of Coahuila to ensure a supportive business environment.

Positive

• New manufacturing plant in Saltillo, Mexico, expanding capacity to meet increasing demand.
• Expected creation of 250 jobs, contributing positively to local employment.
• Partnership with American Industries enhances operational support for the new facility.

Negative

• None.

MUSCATINE, Iowa--(BUSINESS WIRE)-- HNI Corporation (NYSE: HNI) announced it is opening a new office furniture manufacturing plant in Saltillo, Mexico. The facility will provide additional capacity to meet HNI’s growing customer demand for office seating. Contingent upon regulatory approvals, the new 160,000 square foot facility is expected to employ an additional 250 workers and will begin production in the first quarter of 2022. The plant will be located in the Mencorsa Industrial Park, Colonia San Jose de los Cerritos. HNI plans to continue increasing staffing levels at the Corporation’s other primary manufacturing locations in North America.

HNI is partnering with American Industries to help establish the Mexican operation. American Industries, a Mexican company established in 1976, has helped over 200 international companies successfully start up and grow their manufacturing and distribution operations in Mexico. HNI is also working closely with the local government of Coahuila state which is committed to fostering a positive business environment in Saltillo.

“This is an important investment for HNI,” said Kevin Hoban, Vice President of Manufacturing for HNI. “The additional equipment, labor force, and supply chain capacity we are creating in Saltillo will help us respond to strengthening demand. We are pleased to be working with the Coahuila government and American Industries and appreciate their support of this important project.”

About HNI Corporation

HNI Corporation (NYSE: HNI) is a manufacturer of workplace furnishings and residential building products, operating under two segments. The Workplace Furnishings segment is a leading global designer and provider of commercial furnishings, going to market under multiple unique brands. The Residential Building Products segment is the nation’s leading manufacturer and marketer of hearth products, which include a full array of gas, electric, wood, and pellet-burning fireplaces, inserts, stoves, facings, and accessories. More information can be found on the Corporation’s website at www.hnicorp.com.

Forward-Looking Statements

This release contains "forward-looking" statements based on current expectations regarding future plans, events, outlook, objectives, financial performance, and expectations for sales growth. Forward-looking statements can be identified by words including “expect,” “believe,” “anticipate,” “estimate,” “may,” “will,” “would,” “could,” “confident”, or other similar words, phrases, or expressions. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Corporation’s actual future results and performance to differ materially from expected results. A description of these risks and additional risks can be found in the Corporation’s annual and quarterly reports filed with the Securities and Exchange Commission on Forms 10-K and 10-Q. The Corporation assumes no obligation to update, amend, or clarify forward-looking statements, except as required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210902005762/en/

Marshall H. Bridges, Senior Vice President and Chief Financial Officer (563) 272-7400

Matthew S. McCall, Vice President, Investor Relations and Corporate Development (563) 275-8898

Source: HNI Corporation

FAQ

What is HNI Corporation's latest expansion plan?

HNI Corporation plans to open a new manufacturing plant in Saltillo, Mexico, to expand its office furniture production capacity.

When is HNI's new facility expected to start production?

The new facility is expected to begin production in the first quarter of 2022.

How many jobs will the new HNI plant create?

The new plant is expected to create 250 jobs.

What is the size of HNI's new manufacturing plant?

The new manufacturing plant will cover 160,000 square feet.

Who is HNI partnering with for the new plant in Mexico?

HNI is partnering with American Industries to establish the new plant.