CARLISLE, Pa. (Aug. 12, 2010) — Carlisle Companies Inc. has budgeted $65 million to cover the costs of converting a factory in Jackson, Tenn., to tire production and relocating the bulk of capacity at its Carlisle, Pa., plant to that new site.
Carlisle has started limited production at Jackson—a former Whirlpool Corp. plant—and recently disclosed production at its 93-year-old Pennsylvania plant would cease by year-end.
Carlisle stated in its second quarter 10-Q filing with the Securities and Exchange Commission that it spent $46 million to purchase the 568,000-sq.-ft. facility in Jackson and begin to refurbish and equip it for tire production. The remainder of the $65 million will be used to cover relocation and severance costs, the company said. Carlisle previously had not disclosed the projected costs for the move.
The Jackson plant also will incorporate production from two other plants: the Bowdon, Ga., tire and wheel assembly operation that was destroyed by fire in late 2008, and certain lines from Carlisle's plant in Buji, China.