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Governor Lamont Announces Ranpak to Create New Innovation Center in Shelton, Connecticut
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Ranpak Holdings Corp (NYSE: PACK) is establishing an 80,000 square foot innovation and automation center in Shelton, Connecticut, projected to employ 100 workers by 2024. Initially, 35 jobs will be created. The facility will include a showroom for automation products, a research center for AI applications, and 50,000 square feet for manufacturing. Construction is set to finish in Q4 2022. The company has been recognized as one of the most innovative logistics firms in 2021 for its eco-friendly packaging solutions. This move underscores Ranpak's commitment to advancing sustainable packaging technology.
Positive
Creation of approximately 100 jobs by 2024.
Establishment of an 80,000 square foot innovation center in Connecticut.
Recognition as one of the 10 most innovative logistics companies in 2021.
Negative
Initial employment of only 35 workers at the new facility.
Project to Create Approximately 100 Jobs by 2024
CONCORD TOWNSHIP, Ohio--(BUSINESS WIRE)--
Governor Lamont today announced that Ranpak Holdings Corp. (NYSE: PACK), a global leader of environmentally sustainable, paper-based packaging solutions for e-commerce and industrial supply chains, is creating an 80,000 square foot innovation and automation center in Shelton, Connecticut. The company expects to initially employ 35 at the facility and grow that total to 80-100 workers by 2024.
“Ranpak wanted a skilled workforce and a location that fuels innovation and next generation thinking,” said Governor Ned Lamont, “They found everything they needed right here in Connecticut. Connecticut is one of America’s great manufacturing states and we are glad to welcome Ranpak to our advanced manufacturing community.”
Ranpak’s innovation center will serve many purposes. Housed within an 80,000 square foot mixed-use facility will be a showroom for Ranpak’s automation and robotics product offerings; an innovation center for research and development in automation and AI applications and approximately 50,000 square feet of dedicated manufacturing and assembly space. Construction of the new building, located at 57 Waterview Drive, is expected to be complete by fourth quarter 2022.
“Ranpak is thrilled to invest in our growth in end-of-line automation and robotics solutions at our new center in Shelton, Connecticut,” said Omar Asali, Chairman and Chief Executive Officer of Ranpak. “We are committed to building state-of-the-art technologies to advance Ranpak’s mission to deliver automated and sustainable packaging solutions. Our Connecticut facility will be an ideal location to develop and scale new innovations to drive our mission forward. We look forward to bringing high quality jobs to Fairfield County and thank Governor Lamont and his administration for welcoming us as new members of the community.”
With global headquarters in the Cleveland, Ohio area, Ranpak employs over 850 people around the world, including the Netherlands, Czech Republic, Singapore and multiple locations across the United States. Earlier this year Fast Company magazine recognized Ranpak as one of “the 10 most innovative logistics companies of 2021” for their eco-friendly packaging solutions.
“Ranpak is going to make a great addition to Connecticut’s manufacturing ecosystem,” said David Lehman, Commissioner of the Department of Economic and Community Development, “Their commitment to innovation and sustainability fit well into the business ethos of our state.”
“Ranpak’s decision to locate their new facility in Connecticut underscores what we know to be true: our talent, our location and our culture of innovation are powerful assets for companies looking to be best-in-class in their industries,” added Peter Denious, President and CEO of AdvanceCT.
About Ranpak
Founded in 1972, Ranpak's goal was to create the first environmentally responsible system to protect products during shipment. The development and improvement of materials, systems and total solution concepts have earned Ranpak a reputation as an innovative leader in e-commerce and industrial supply chain solutions. Ranpak is headquartered in Concord Township, Ohio and has approximately 850 employees.
