RACER Trust Completes Sale of Property in Anderson, IN; Site to be Used by Sirmax North America for Manufacturing
RACER Trust today announced it has completed the sale of 34.4 acres of vacant industrial land in Anderson, IN, to an affiliate of GDI Construction, a local developer who plans to build a 140,000-square-foot manufacturing facility for Sirmax North America, Inc.
The property, off Martin Luther King Boulevard, is part of the larger former Delphi I Plant site. Approximately 108 acres remains available for sale and redevelopment.
“RACER Trust is very pleased to have completed this transaction, which will result in new jobs and economic opportunity for the community,” said Elliott P. Laws, of EPLET, LLC, Administrative Trustee of RACER Trust. “RACER’s mission is to seek buyers who will invest in redevelopment and jobs in communities that were hit hard by manufacturing losses. We continue to carry out this mission with the active participation and support of our community and state partners and the private sector. We remain diligent in our efforts to attract additional jobs and redevelopment to our properties in Anderson and elsewhere.”
Sirmax, an Italy-based global supplier of plastic compounds and resins for automotive and appliance customers, plans to open its first North American operations in Anderson, creating up to 50 news jobs by 2020. The facility is expected to be operational in October 2015.
Sirmax is expected to invest $25.6 million in its Anderson operations, including installation of equipment based on best practices developed at the company’s facilities around the world. The company said it expects to produce 20,000 tons of plastic compounds and resins a year in Anderson.
“RACER Trust has been a great partner with Anderson,” Anderson Mayor Kevin Smith said. “Together, we are attracting new jobs and new growth to our city.”
“Having now been a part of the Anderson community for 30-plus years, it is extremely satisfying to be involved in redeveloping such an iconic piece of
property in the history of Anderson,” said Terry McCardwell, CEO of GDI Construction of Indianapolis. “Sirmax locating here is emblematic of greater things happening in Anderson. It is a new day in Anderson; its best days are ahead, and I am proud to have played just a small role in making this happen.”
Indiana Governor Mike Pence joined executives from Sirmax in January to announce the company’s plans to locate its first North American facility in Anderson.
“Sirmax is joining the ranks of leading automotive companies who have chosen to grow in Indiana out of a world of options,” Governor Pence said then. “Entering a new international market can be difficult, but with Indiana’s business climate built for their growth and a workforce that knows its way around building cars, Hoosiers help keep the world moving.”
With 200 employees located across its European and South American locations, Sirmax said it will begin to hire engineers, administrators, machine operators, quality control professionals, skilled equipment mechanics and production line associates for its Anderson location beginning in September.
About RACER Trust: RACER (Revitalizing Auto Communities Environmental Response) Trust was created to clean up and position for redevelopment properties and other facilities owned by the former General Motors Corp. before its 2009 bankruptcy. RACER is one of the largest holders of industrial property in the United States and is the largest environmental response and remediation trust in U.S. history. When the Trust was formed, it owned properties at 89 locations in 14 states, principally in the Midwest and Northeast. The Trust was created by a settlement agreement in the U.S. Bankruptcy Court between the U.S. Government, the 14 states where the former GM properties are located, and the St. Regis Mohawk Tribe, which owns land adjoining one of the properties in Upstate New York. For more information, please visit our website: www.racertrust.org.
About GDI Construction: GDI Construction, headquartered in Indianapolis, Indiana, creates real estate solutions across manufacturing, warehousing, distribution, retail, office, medical and institutional industries. Innovative and customized solutions reflect the company’s desire to continually refine its construction standards in order to deliver to the exact needs of each client. GDI consistently produces high-quality products within the owner’s scheduling and budget constraints. Additional information about GDI Construction is available at www.gdiconstruction.com.