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USPC will relocate to a 570,000 square foot facility on 40 acres in Boone County, Kentucky in early 2009. The facility will be the headquarters operations for USPC, which has been located in the Greater Cincinnati city of Norwood, Ohio since 1901. The campus will also serve as the headquarters for Loew-Cornell, a respected leader in the art and craft supply market and also part of Jarden Branded Consumables, whose corporate functions will be relocated to Boone County from Englewood, NJ. USPC will continue to have operations in Cincinnati, including a display of the company's museum of historical playing cards dating back to the fourteenth century.
Martin E. Franklin, Chairman and CEO of Jarden Corporation, stated, "We are extremely pleased to continue our track record of investing in our businesses to support the long term expansion of our brands and products. USPC and its market leading playing cards fit extremely well within our portfolio of iconic American brands. Our investment in this new state-of-the-art facility should help solidify the leadership positions we hold and drive our continuing global expansion. We believe the technological and logistical advances that will be made from this move will provide excellent returns on our investment."
Mr. Franklin continued, "Clearly Jarden would not consider such a large capital expansion were it not for the quality of our employees. I have said many times that our employees are our most important assets, and I am pleased that we are in a position to maintain their job security and invest in the future of USPC."
Commenting on the announcement, Phil Dolci, President of USPC, said, "We have a rich history of manufacturing in Cincinnati and Norwood. From the introduction of the Bicycle(R) and Bee(R) playing card brands in the late nineteenth century to the production of World War II escape decks that helped prisoners of war map their way out of Germany to the more recent Texas Hold'm Poker cards and sets, we have enjoyed a long and successful history. USPC is committed to growing our leadership position in the future and enhancing the appeal of our iconic playing card brands. To continue to compete in the global marketplace over the next 100 years, it was obvious we needed to modernize our equipment and facilities. Over the course of the last year, we conducted an exhaustive search in Ohio, Indiana and Kentucky for a new location that would position us to retain our employees and provide the best platform to serve our global customer base in the most efficient manner."
"We were highly impressed with the outstanding support we received during the site selection and thank each state and local team for their efforts to secure this major investment," Mr. Dolci continued. "The Northern Kentucky location uniquely offers an easily accessible campus for our employees, who live throughout the region, and an existing facility to position us to immediately expand and improve operations and with capacity for future expansion. Additionally, the Tri-County Economic Development Corporation, State of Kentucky, Boone County, and Gateway Community and Technical College teamed to provide a strong, comprehensive incentive package to make this project possible in Northern Kentucky. With the project involving approximately 500 employees, USPC will be one of the ten largest manufacturers in the Northern Kentucky region, and we look forward to getting to know our new neighbors as we continue to invest in this vibrant region that we are honored to call home."
Mr. Dolci concluded, "This move is also a great opportunity for USPC to become an even 'greener' company, which is consistent with Jarden's corporate commitment to responsible and sustainable business practices. While our playing cards are already 'green' in that our paper comes from sustainable forests, the components are water soluble and our waste is completely recyclable, the new building and equipment will drive down our energy usage and reduce the amount of product to be recycled."
Kentucky Governor Steve Beshear said, "With a 141-year history in the Greater Cincinnati area, U.S. Playing Card is not only an economic success but an institution in and of itself. We are thrilled that we were able to meet the company's needs and keep it and critical jobs in the region. U.S. Playing Card is making a significant investment, and we will work closely with the company to make sure the relocation is a success."
Gary W. Moore, Judge Executive of Boone County, said, "USPC has a long and distinguished history in this region and is widely recognized as a leader in its industry. We welcome them into our community of highly regarded manufacturing companies."
About the United States Playing Card Company
The United States Playing Card Company is the leader in the production and distribution of premier brands of playing cards, including BEE(R), BICYCLE(R), AVIATOR(R), HOYLE(R), KEM(R) and CONGRESS(R) playing cards. BICYCLE(R) has been the best selling playing card brand in the world for more than 100 years. Founded in 1867, the company manufactures, markets and distributes playing cards, children's card games, collectible tins, puzzles and card accessories. BEE(R), BICYCLE(R), AVIATOR(R) and HOYLE(R) are registered trademarks of The United States Playing Card Company. For more information, visit http://www.usplayingcard.com.
About Jarden Corporation
Jarden Corporation is a leading provider of niche consumer products. Jarden operates in three primary business segments through a number of well recognized brands, including: Outdoor Solutions: Abu Garcia(R), Berkley(R), Campingaz(R) and Coleman(R), Fenwick(R), Gulp!(R), JT(R), K2(R), Marker(R), Marmot(R), Mitchell(R), Penn(R), Rawlings(R), Shakespeare(R), Stearns(R), Stren(R), Trilene(R), and Volkl(R); Consumer Solutions: Bionaire(R), Crock-Pot(R), FoodSaver(R), Health o meter(R), Holmes(R), Mr. Coffee(R), Oster(R), Patton(R), Rival(R), Seal-a-Meal(R), Sunbeam(R), VillaWare(R) and White Mountain(R); and Branded Consumables: Ball(R), Bee(R), Bicycle(R), Crawford(R), Diamond(R), Dicon(R), First Alert(R), Forster(R), Hoyle(R), Kerr(R), Lehigh(R), Leslie-Locke(R), Loew-Cornell(R) and Pine Mountain(R). Headquartered in Rye, N.Y., Jarden has over 25,000 employees worldwide. For more information, please visit www.jarden.com
Note: This news release contains "forward-looking statements" within the meaning of the federal securities laws and is intended to qualify for the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's adjusted earnings per share, repurchase of shares of common stock from time to time under the Company's stock repurchase program, the outlook for Jarden's markets and the demand for its products, estimated sales, segment earnings, earnings per share, cash flows from operations, future revenues and margin requirement and expansion, organic growth, the success of new product introductions, growth in costs and expenses and the impact of acquisitions, divestitures, restructurings, and other unusual items, including Jarden's ability to integrate and obtain the anticipated results and synergies from its acquisitions, including Pure Fishing, Inc. and K2 Inc. These projections and statements are based on management's estimates and assumptions with respect to future events and financial performance and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results could differ materially from those projected as a result of certain factors. A discussion of factors that could cause results to vary is included in the Company's periodic and other reports filed with the Securities and Exchange Commission.
SOURCE Jarden Corporation
http://www.jarden.com
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