FRANKLIN ELECTRIC BREAKS GROUND FOR NEW CORPORATE HEADQUARTERS
Bluffton, Indiana – April 20, 2012 – Franklin Electric Inc. (NASDAQ:FELE) held a groundbreaking ceremony today for its new Global Corporate Headquarters and Engineering Center of Excellence facility to be located at 9255 Coverdale Road in Fort Wayne, Indiana.
Speaking at the event, Franklin Electric’s CEO and Chairman of the Board, Scott Trumbull, thanked local and state officials who worked with the company to keep the headquarters facility in northeast Indiana.
"Over the years, Franklin Electric has outgrown our existing office space, and our physical capacity to develop and test new products has become severely constrained. As we emerged from the recent recession, the issue was therefore not whether we should build a new headquarters and lab, but where it should be.
Due to the good work of the people here today, we were able to put together a plan that enabled us to demonstrate to our board that the best overall value for Franklin’s stakeholders is to stay in northeast Indiana and to locate here in Fort Wayne. I would like to extend my sincere thank you to the people whose efforts have made it possible for us to remain a part of this great community."
Specifically, Mr. Trumbull noted the efforts of Governor Daniels, Senator David Long, the Indiana Economic Development Corporation, the Fort Wayne-Allen County Economic Development Alliance,
Allen County Commissioners Nelson Peters, Therese Brown, and Linda Bloom, and Fort Wayne Mayor Tom Henry.
When complete, the new facility will initially employ approximately 225 persons who currently work at Franklin Electric’s leased space in Bluffton, Indiana. The company expects to occupy the new facility in the summer of 2013.
Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and automotive fuels. Recognized as a technical leader in its specialties, Franklin Electric serves customers around the world in residential, commercial, agricultural, industrial, municipal, and fueling applications.
The financial information on this page about Franklin Electric Co., Inc. has previously been made available for public dissemination through press releases. The placement of such press releases on this particular page of the Franklin Electric Company website is intended to set apart and distinguish financial information from other non-financial information found on this site, including product, service, marketing and technical information. Regardless of the language used and the resulting interpretations that may or could be reached, such product, service, marketing, technical, and/or any other information found within other pages of this site should in no way be construed to be financial in nature or represent the past, current or future financial results of Franklin Electric Co., Inc.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. Any forward looking statements contained herein involve risks and uncertainties, including but not limited to, general economic and currency conditions, various conditions specific to the Company's business and industry, market demand, competitive factors, supply constraints, technology factors, government and regulatory actions, the Company's accounting policies, future trends, and other risks which are detailed in the Company's Securities and Exchange Commission filings. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. We do not assume any obligation to update any forward-looking information. While we may elect to update the forward-looking statements at some point in the future, we specifically disclaim any obligation to do so.