December 2008, Bristol, TN
— Seaman Corporation has announced a three-year plan to invest
$7 million at its manufacturing plant here. "The primary purpose
of this investment is to further increase our capability and to improve
the productivity of our current associates so that we can remain globally
competitive," said Richard Seaman, President and Chief Executive
Officer of Seaman Corporation.
Some $4 million will be used to design,
build and install a state-of-the-art coating line for primer application,
while the balance will be required for mixing equipment and weaving
and knitting machinery. The investment, he said, will allow the company
to maintain its current level of associates at Bristol, specifically
allowing the company to retain 25 to 30 of them. Instead of losing
jobs, Seaman said, the company anticipates the need for 15 to 20 additional
associates over the next three years.
The company operates plants in both
Bristol and Wooster, Ohio, producing high performance specialty fabrics
using proprietary weaving and coating formulas. Various Seaman fabrics
are used for roofing membranes, truck tarps, architectural structures,
landfill liners, inflatable recreational and boating products and
military products such as shelters and fuel containers.
Seaman noted that the current announcement continues the company's
aggressive commitment to invest in necessary manufacturing technology.
"Between 2001 and 2004, Seaman Corporation invested more than
$15 million in designing, acquiring and installing state-of-the-art
hot melt coating equipment in its Ohio and Tennessee manufacturing
facilities," he said. That investment was necessary to increase
production capacity and provide the ability to produce fabric in wider
widths preferred by customers. The new investment in primer coating
equipment will enable the company to produce even wider widths and
continue to be competitive worldwide.
Seaman commented, "I am pleased
that the community of Bristol and the State of Tennessee recognize
the risks that are being undertaken by Seaman Corporation. They have
provided significant economic development incentives which make it
attractive for us to make this investment in Bristol." In addition
to the city and state, Seaman also acknowledged support from Bristol
Essential Services, The Tennessee Valley Authority and Sullivan County.
"Seaman Corporation is an excellent
corporate citizen," said Jeff Broughton, Bristol's City Manager,
"and this high technology expansion represents the long term
investment this company has made to this community and supports continued
growth in Bristol."
Also commenting was Mike Browder, Chief
Executive Officer of Bristol Essential Services. "Richard Seaman
and the Seaman family, as well as Raj Venkataraman (Seaman Corporation's
Bristol Director of Manufacturing/Vice President of Operations) have
continued to make personal commitments to the people of Bristol,"
he said. "The new and innovative technology Seaman Corporation
brings to our community will continue to bring growth and stability
which is important to BTES and our customers."
Expressing support on behalf of the
Tennessee Valley Authority, Ken Breeden, Executive Vice-President
of Customer Resources, said: "TVA is pleased to partner with
Bristol Tennessee Essential Services, the City of Bristol, the State
of Tennessee and other area leaders to support Seaman Corporation's
expansion in this community."
For more information about Seaman Corporation, visit the company's
website at www.seamancorp.com.
