Cybex opens new $15 million facility in Owatonna, MN
Cybex International, Inc. (NASDAQ: CYBI) today announced that it has opened a new, $15 million, 340,000 square foot eco-friendly manufacturing facility in Owatonna, MN.
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MEDWAY, MA, July 17, 2007 — Cybex International, Inc. (NASDAQ: CYBI) today announced that it has opened a new, $15 million, 340,000 square foot eco-friendly manufacturing facility in Owatonna, MN. A leading manufacturer of premium exercise equipment for the commercial and consumer markets, CYBEX’s completion of the new facility marks a significant improvement to its U.S. operations. This facility is expected to serve projected growth and to generate significant manufacturing efficiencies over time. The Company’s new location is less than one mile from the original Owatonna facility which had been the site for manufacturing strength training equipment since 1985. John Aglialoro, CYBEX’s Chairman and Chief Executive Officer, commented, â€œThe expansion marks a new phase of innovation and is also an example of our disciplined approach to growth. We’re investing in our employees and our processes and believe that with a sound workforce and progressive manufacturing capabilities, we will continue to grow our business and reinforce our brand with the high levels of quality control and the short lead times that are absolutely critical to our business.â€ The facility, projected to enhance CYBEX’s manufacturing while also maintaining its Owatonna employee base, is 70 percent larger than the previous plant. It has 275,000 square feet of manufacturing space with expandable capabilities of up to 490,000 square feet. This includes 35,000 square feet of office space and 30,000 square feet of warehouse space. The Company’s focus on manufacturing efficiencies will continue with a new $3.5 million state-of-the-art powder coat paint electrostatic system, robotic weld cells and a tube laser. The building is designed to be environmentally sound and incorporates natural lighting and water recycling systems that provide cost-savings on maintenance and efficient energy consumption, while reducing green house gases and mercury pollution. The 36 acre area surrounding the facility will be seeded for the use of wildlife and natural foliage. â€œCYBEX’s new facility is the type of high-quality investment we need for the Owatonna community, Southern Minnesota and our entire state to remain competitive and growing,â€ Minnesota Governor Tim Pawlenty said. “The Company’s entrepreneurship, energy and commitment have fueled the need for this new facility and it’s a great example of real economic growth, maintaining and creating good jobs, and enhancing our state’s long-term prosperity.â€ Although CYBEX was pursued by other communities to relocate, it was Owatonna’s support coupled with CYBEX’s commitment to its existing workforce and providing a better quality of life for those employees that made the new location ideal. Twenty two teams of employees were involved in the 27 months of project planning. As part of the new capital investment, CYBEX trained its veteran workforce to supervise and interact with robotics and the industry’s most advanced equipment.
â€œCYBEX earned broad-based support for its vision from the Owatonna community and Steele County, the Chamber of Commerce and so many others,â€ said Ed Kurzontkowski, Senior Vice President of Manufacturing and Engineering for CYBEX. â€œIt has been a collaborative effort and one that, starting today, provides a new beginning and bright future for all involved.â€ CYBEX recently launched a home line of products and introduced a new hospitality division with plans to expand its presence in hotels, resorts and spas, adding to existing complimentary product line offerings for the marketplace. CYBEX produces and ships premium exercise equipment including treadmills, cardiovascular and strength equipment to more than 80 countries around the globe. NOTE TO EDITORS: Photo images and video of the facility are available. Media tours of the facility are also available upon request. About CYBEX Cybex International, Inc. is a leading manufacturer of premium exercise equipment for commercial and consumer use. The CYBEX product line includes a full range of both strength training and cardio training machines sold worldwide under the CYBEX brand. Products and programs are designed and engineered to reflect the natural movement of the human body, assisting each unique user â€” from the professional athlete to the first-time exerciser â€” to improve daily human performance. For more information on CYBEX and its product line, please visit the Company’s website at www.cybexinternational.com.