Garmin® to embark on $200 million campus expansion
August 26 2016 - 9:03AM
Business Wire
New facilities support long-term growth
initiatives
Garmin International Inc., a unit of Garmin Ltd. (NASDAQ: GRMN),
today announced that it was breaking ground on a $200 million
dollar facility expansion at its Olathe, Kansas campus. The campus
expansion is designed to position the technology company as a
leading innovator well into the future.
“This is a significant investment in our associates and our
company’s future,” said Cliff Pemble, Garmin CEO. “Our vision is to
be an enduring company that is a leader in all markets that it
serves. To accomplish this, we need a world-class facility that can
attract and retain the highest level of talent. We believe we are
poised for growth in many areas of our business, so this next phase
of development is essential to Garmin’s success and it signals our
commitment to our customers, associates, shareholders, and
community.”
The implementation of the company’s previously approved master
plan will occur in two phases. The first phase includes an
approximately 720,000 square foot manufacturing and distribution
center located on its Olathe campus, which will take two years to
complete. A large portion of this new development will
significantly expand manufacturing for the company’s aviation
business segment, providing the capacity needed to serve aircraft
manufacturers and aircraft owners for decades to come. In addition,
the capacity of the company’s North American distribution center
will greatly increase.
The second phase of the expansion will include the renovation of
the existing Garmin warehouse and manufacturing space into a
state-of-the-art research and development facility and supporting
office space. This phase is expected to take an additional two
years to finish, with the full project nearing completion in late
2020.
Once finished, the 96-acre Garmin campus will offer 2.1 million
square-feet of space, with room for up to 2,600 additional
associates. Presently, there are approximately 2,800 on the Garmin
campus with another 600 associates located elsewhere in the greater
Kansas City metropolitan area. There are roughly 11,400 Garmin
associates worldwide.
With the expansion will come first-class amenities like a
fitness center, cafeteria, and large gathering areas. The campus
will feature inviting greenspace amenities as well, including
athletic fields and a two mile outdoor walking trail to promote
fitness and interaction among associates. Traffic improvements,
like additional lanes and a stoplight, will accompany the
project.
In addition, Olathe Mayor Michael Copeland announced today that
a newly-constructed loop road extending through the campus would be
named Garmin Way in honor of the company’s contributions and
presence in Olathe since 1995. As such, the Garmin campus’ official
address will be changed to One Garmin Way.
“Garmin is a long-time resident of Olathe and the company is
unquestionably a strong economic engine for the city,” said Mayor
Copeland. “Just as importantly, many of their associates choose to
make Olathe their home or contribute in other ways to our
community, and for that we are grateful.”
The Garmin campus is located along 151st Street near Interstate
35 in Olathe. The project’s contractor is McCown Gordon and its
designer and architect is Gould Evans.
For decades, Garmin has pioneered new GPS navigation and
wireless devices and applications that are designed for people who
live an active lifestyle. Garmin serves five primary business
units, including automotive, aviation, fitness, marine, and outdoor
recreation. For more information, visit Garmin's virtual pressroom
at garmin.com/newsroom, contact the Media Relations department at
913-397-8200, or follow us at facebook.com/garmin,
twitter.com/garmin, or youtube.com/garmin.
About Garmin
Garmin International Inc. is a subsidiary of Garmin Ltd.
(Nasdaq: GRMN). Garmin Ltd. is incorporated in Switzerland, and its
principal subsidiaries are located in the United States, Taiwan and
the United Kingdom. Garmin is a registered trademark of Garmin
Ltd.
All other brands, product names, company names, trademarks and
service marks are the properties of their respective owners. All
rights reserved.
Notice on Forward-Looking Statements:This release
includes forward-looking statements regarding Garmin Ltd. and its
business. Such statements are based on management’s current
expectations. The forward-looking events and circumstances
discussed in this release may not occur and actual results could
differ materially as a result of known and unknown risk factors and
uncertainties affecting Garmin, including, but not limited to, the
risk factors listed in the Annual Report on Form 10-K for the year
ended December 27, 2014, filed by Garmin with the Securities and
Exchange Commission (Commission file number 0-31983). A copy of
such Form 10-K is available at
http://www.garmin.com/aboutGarmin/invRelations/finReports.html. No
forward-looking statement can be guaranteed. Forward-looking
statements speak only as of the date on which they are made and
Garmin undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20160826005296/en/
Garmin International, Inc.Ted Gartner,
913/397-8200media.relations@garmin.com
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