Carlisle Companies Announces Plans to Expand Research and Innovation Center in Carlisle, Pennsylvania
May 01 2024 - 9:16AM
Business Wire
Carlisle Companies Incorporated (NYSE:CSL) today announced plans
to invest more than $45 million to build the next phase of its
state-of-the-art Research & Innovation Center in Carlisle,
Pennsylvania. Consistent with Carlisle’s Vision 2030 strategy to
achieve above-market growth and additional price for value, the
expansion further positions Carlisle to leverage mega trends around
energy efficiency, labor savings and the re-roofing cycle.
The Carlisle Research & Innovation Center expansion will add
over 50,000 square feet of additional lab space, work area, and
equipment stations to the existing facility in Carlisle and
provides world-class office and collaboration space for planned
increases in innovation staffing. The planned expansion will more
than double the current square footage dedicated to research and
innovation in Carlisle, PA, and will help accelerate new product
development and commercialization focused on increasing annual new
product revenue in line with Carlisle’s Vision 2030 objectives.
Chris Koch, Chair, President and Chief Executive Officer, said,
“After announcing our Vision 2030 strategy in December of last
year, and delivering on our commitment to become a pure play
building products company, we continue to focus on unlocking
additional above-market growth by increasing our R&D spend to
augment returns across our full suite of products and services. The
next phase of our innovation center expansion will allow us to
accelerate the development of new programs, add new testing and
analysis capabilities, and drive speed in our new product
introduction process. Consistent with Vision 2030, we plan to
continue innovating by leveraging energy-efficiency trends,
bringing solutions to solve the contractor’s need for more
labor-saving efficiencies, and driving more content per square foot
with integrated system solutions.”
About Carlisle Companies
Incorporated
Carlisle Companies Incorporated is a leading supplier of
innovative building envelope products and solutions for more energy
efficient buildings. Through its building products businesses –
Carlisle Construction Materials (“CCM”) and Carlisle
Weatherproofing Technologies (“CWT”) – and family of leading
brands, Carlisle delivers innovative, labor reducing and
environmentally responsible products and solutions to customers
through the Carlisle Experience. Carlisle is committed to
generating superior shareholder returns and maintaining a balanced
capital deployment approach, including investments in our
businesses, strategic acquisitions, share repurchases and continued
dividend increases. Leveraging its culture of continuous
improvement as embodied in the Carlisle Operating System (“COS”),
Carlisle has committed to achieving net-zero greenhouse gas
emissions by 2050.
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Mehul Patel Vice President, Investor Relations Carlisle
Companies Incorporated (310) 592 - 9668 mpatel@carlisle.com
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