We have an exciting announcement to make regarding capital investment for our company. We have grown our geographic footprint over the past few years. We are experiencing growth both organically from our existing customers and with market share gains. We are blessed with an improved market.
To support this growth, our board of directors has approved the purchase of property and equipment at 3740 Manchester Drive, Elkhart, Indiana. The property consists of approximately 6 acres of land and 50,000 square feet of building space. The equipment purchases are additional truss and wall panel equipment to support our manufacturing division. At Manchester Drive, we will operate our retail lumber and building materials operation, Zeeland Lumber and Supply, and our component manufacturing division, Zeeland Truss and Components.
This investment serves our company well in these areas:
- Serve our existing customers better in Northern Indiana and Southern Michigan with a regional facility closer to their market.
- Seek new customers and new markets in Northern Indiana and Southern Michigan.
- Relieve capacity from our existing facilities in Zeeland and on Clay Ave, Wyoming to better serve our customers.
We are excited that this investment will add value to our customers, employees, suppliers and shareholders. We are excited about the future of our business and our industry, and the purchase of this property.