Mohawk Announces Lease Extension at Ashtabula, Ohio Converting Facility Through 2022
Friday, July 11, 2014
Press release from the issuing company
Announcement follows 100 local new hires and $2 million in facility investments
Cohoes, NY – Mohawk, North America’s largest privately-owned manufacturer of fine papers, envelopes and specialty substrates for commercial and digital printing, announces it has extended the lease on its one million square-foot converting center and warehouse facility in Ashtabula, Ohio, through December 2022. The decision to extend the current lease beyond its original term reflects Mohawk’s commitment to expanding its envelope converting operations and, further, demonstrates its confidence in the assembled workforce.
Working closely with the owner of the property, Saybrook Investment Corporation, Mohawk extended the term of original lease - which was set to expire in 2017 - for an additional five year period.
“We are very pleased to continue building on our strong working relationship with Saybrook Investment Corporation, the facility’s landlord. We’re experiencing significant growth in our envelope converting operations at our Ashtabula facility and are confident in the long term opportunities that are present there. Mohawk is committed to providing a stable work environment for our employees and continuing to create new employment opportunities in Ashtabula County,” said Jack Haren, President and Chief Financial Officer, Mohawk.
“We are extremely excited about the prospect of having Mohawk as one of our most valued tenants through the year 2022,” said Edward B. Dunlap, CEO, Saybrook Investment Corporation. “We began our business relationship with Mohawk in March of 2008, and by the time this latest lease extension will expire; we will have had the experience of dealing with one of the finest companies in the paper industry for almost a decade and a half. Mohawk is truly a great asset to the local community, the County, and the State of Ohio.”
Since January of this year, Mohawk has hired nearly 100 new employees and has invested over 2 million dollars in equipment additions and upgrades in the company’s state-of-the-art converting center to expand its envelope manufacturing operations.
The company, one of Ashtabula County’s largest manufacturing employers, plans further growth with intent to hire 20-30 new employees this year.
“Mohawk has always been a great stabilizer for employment in Ashtabula County. We want to protect every job we can, and the positions at Mohawk are well paying jobs with benefits - so we were extremely pleased that the Mohawk lease was extended,” said Peggy Carlo, Ashtabula County Commissioner. “This is a huge investment in the county and we thank Mohawk, Ed Dunlap of Saybrook Investment Corp. and everyone involved with this venture.”
Mohawk’s Saybrook facility was awarded a “Best of the County” award in 2008, and recently logged nine years without a lost time injury. This significant accomplishment clearly demonstrates Mohawk’s strong commitment to employees and their workplace safety.
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