An international adhesive and sealant manufacturer, Soudal Holding NV will invest nearly $21.2 million to acquire and expand Accumetric LLC in Elizabethtown, Kentucky. The firm will retain 85 jobs, with plans to create as many as 77 new positions.
Soudal will expand its 200,000-square-foot facility on Ring Road, including undertaking a series of technology upgrades. The move also will establish Soudal’s North American headquarters in Hardin County. Even with the change in ownership, the facility will still operate under the name Accumetric.
“Kentucky’s business-friendly environment, coupled with strong expansion options, helped to solidify our location decision,” said Soudal’s Chairman/ CEO Baron Victor Swerts. “As a rapidly growing company, we need a business environment that will respond quickly to our needs, and the Commonwealth and Elizabethtown-Hardin County communities clearly fit this requirement. Soudal is excited to be investing in the Commonwealth of Kentucky and looks forward to the accelerated growth of Accumetric here in North America.”
Soudal was formed in Belgium in 1966 and is a global leader in sealants, foam and adhesives. The company operates in more than 100 countries. In acquiring Accumetric, Soudal inherits a company that has manufactured packaged and marketed adhesives, sealants, lubricants and related products to domestic and foreign customers worldwide for more than 40 years.
“The Commonwealth is excited to welcome Soudal to our growing international corporate community,” said Governor Steve Beshear. “I know that the company could have located anywhere. The fact that it chose to grow in the Commonwealth is a strong testament to our pro-business climate and quality workforce.”
To encourage the investment and job growth in Hardin County, the Kentucky Economic Development Finance Authority preliminarily approved Soudal’s expansion for tax incentives up to $1.2 million through the Kentucky Business Investment program. The performance-based incentive allows the company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
In addition, KEDFA also approved Soudal for tax benefits up to $300,000 through the Kentucky Enterprise Investment Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment.
“We are incredibly pleased that Soudal has selected Elizabethtown as its new location,” said Elizabethtown Mayor Edna Berger. “Soudal will add significantly to our strong business environment in Elizabethtown.”
Soudal is the largest independent European manufacturer of sealants, adhesives and polyurethane foam for professional and DIY users. It realizes a turnover of almost $700 million and has over 1.800 employees in 38 countries. Furthermore, the group has 13 production sites on 4 continents. Soudal, a 100% Belgian family owned company headed by its founder Mr. Vic Swerts, has developed into an international player and expert in chemical construction specialties. Continued investments in R&D, a long-term vision for innovation and adaptations to local market requirements have resulted in Soudal’s excellent performance, for which it was named Company of the Year in 2011.
Accumetric manufactures, packages, and markets sealants for more than 2,500 companies across the globe. With over 40 years of experience, they bring to every project a level of expertise unmatched by the competition. Accumetric’s staff, technology, and state-of-the-art, 200,000 square foot packaging and manufacturing facilities provide their customers a single source partner to meet their ever changing and unique needs. From every cartridge filled to every box shipped to every customer call taken, Accumetric is focused very strongly on quality.