Tempur Sealy Expands U.S. Manufacturing Capacity
Tempur Sealy International, Inc. (“Tempur Sealy” or the “Company”) announced that it has selected Crawfordsville, Indiana as the site for its previously-announced third domestic foam-pouring plant. The new state-of-the-art plant is expected to be the largest Tempur Sealy manufacturing facility in the world and will be located in Crawfordsville, Indiana. Subject to closing conditions, the construction on the 130-acre site is expected to begin in the third quarter of 2021.
This new facility’s location in the Midwest complements the Company’s existing manufacturing footprint and is expected to enhance the Company’s ability to service its Northeast customers. The first phase is planned for approximately 700,000 square feet, with the ability to double its capacity over time and to expand to a final size of approximately 1 million square feet in the future, which would make it Tempur Sealy’s largest manufacturing facility in the world. Production is expected to begin in 2023, and Tempur Sealy plans to hire approximately 300 local employees to staff the facility. Construction will be funded from operating cash flow.
Tempur Sealy Chairman and CEO Scott Thompson commented, “This facility underpins our commitment to expanding our global manufacturing footprint to fulfill the projected long-term demand trajectory for our industry leading products and support our growth initiatives. The facility will have the capabilities to manufacture a wide variety of bedding products and components for branded and non-branded operations, including Tempur-Pedic, Sealy, Stearns & Foster and OEM mattresses.”
Thompson continued, “After a thorough site search and evaluation process, we have identified Crawfordsville, Indiana as the ideal location for our new operations. We selected this location based on the robust business climate fostered by the state and local government, the quality of life the city of Crawfordsville provides its citizens and the property’s access to major transportation routes.”
Additionally, the Company recently opened a Sealy plant in Dallas, TX, and is expecting to open its new Sherwood northeast plant and a new West Coast facility later this year.
About Tempur Sealy
Tempur Sealy is committed to improving the sleep of more people, every night, all around the world. As a global leader in the design, manufacture and distribution of bedding products, we know how crucial a good night of sleep is to overall health and wellness. Utilizing over a century of knowledge and industry-leading innovation, we deliver award-winning products that provide breakthrough sleep solutions to consumers in over 100 countries.
Our highly recognized brands include Tempur-Pedic®, Sealy® and Stearns & Foster® and our non-branded offerings include value-focused private label and OEM products. Our distinct brands allow for complementary merchandising strategies and are sold through third-party retailers, our Company-owned stores and e-commerce channels. This omni-channel strategy ensures our products are offered wherever and however customers want to shop.
Lastly, we accept our global responsibility to serve all stakeholders, our community and environment. We have and are implementing programs consistent with our responsibilities.
Aubrey Moore – Investor Relations – (800) 805-3635 – firstname.lastname@example.org
Source: Tempur Sealy International, Inc.