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Firestone Building Products Company, LLC (FSBP) announced recently it will consolidate all production of its EPDM (Ethylene Propylene Diene Monomer) roofing membrane into its manufacturing facility in Prescott, Ark. The consolidation plan means significant investment, expansion, and 100 new jobs for the company's Prescott plant, located at 1406 Hwy 371 North.
Due to overcapacity, the company will close its second EPDM plant in Kingstree, S.C., in mid-2011, and supply all EDPM commercial roofing products out of the Prescott location.
"While this is very difficult news for our teammates in Kingstree, we know that consolidating these two facilities and maximizing our EPDM production in Prescott is the right decision for our company in this current economic climate," said Ken Weaver, President, FSBP and Chairman, CEO and President of Firestone Diversified Products. "We simply have more EPDM capacity between the two locations than current market conditions can absorb."
Last fall, FSBP executives began meeting with government officials in Arkansas and South Carolina to discuss possible EPDM consolidation between the company's two facilities. After reviewing highly-competitive proposals from both South Carolina and Arkansas, and factoring in related costs due to product mix and equipment relocation, FSBP made the difficult decision to close the Kingstree plant in mid-2011, and consolidate that production into the Prescott facility.
"We are grateful to the Arkansas government for their generous assistance in support of this consolidation," Weaver stated. "And we also want to thank the Local and International USW leadership in Prescott for their efforts, as well."
Company officials noted that several agencies contributed incentives to Firestone to assist with this planned investment: the Arkansas Economic Development Commission, Nevada County, the City of Prescott, the Nevada County Charitable Foundation and the Nevada County Industrial Development Corporation.
In addition, the company would like to thank Governor Mike Beebe, U.S. Congressman Mike Ross, and the City of Prescott leadership, who were instrumental in these discussions.
Production equipment will be relocated from the Kingstree plant into Prescott gradually over the next six months, and FSBP anticipates plant operations in Kingstree will cease around July 1, 2011.
"We have a 40-year history with this plant in Prescott, and are pleased to continue to build on our relationships with the Prescott community for many more years to come," Weaver concluded.
FSBP currently employs more than 400 at the Prescott facility.
About Firestone Building Products Company, LLC:
Firestone Building Products Company, LLC (FSBP) is a leading manufacturer of EPDM, TPO, asphalt and metal roofing systems, polyiso insulation, and accessories for the commercial roofing industry. In addition to superior roofing products, FSBP offers installation expertise and product support through roofing solutions and technical services departments and an international network of roofing contractors, distributors and field sales representatives. Headquartered in Indianapolis, Ind., FSBP is a subsidiary of Firestone Diversified Products, LLC (FSDP). Visit the FSBP Web site at www.firestonebpco.com.
