Flexsteel to Build New Headquarters

March 31, 2011  by in UnCategorized   

By Home Furnishings Business in Business Strategy on April 1, 2011 Flexsteel Inds. (NASDAQ: FLXS) plans to build a new corporate office building in the Port of Dubuque in Iowa.

The planned four-story, 40,000-square-foot building is estimated to cost $12 million. Construction of the building is contingent upon approval and financial assistance from state and local government. Construction could begin as soon as July 2011 if the financial assistance is approved, and completion is scheduled for early summer 2012.

"Our corporate offices have been at the north Jackson Street location since 1936," said Ron Klosterman, president and CEO. "After 75 years, the office facility is out-of-date both structurally and technologically. Our business has changed over the past 118 years and continues to evolve. We appreciate the dedication shown by our associates, and we are excited about the opportunity to provide them with a greatly-improved working environment, both aesthetically and functionally."

The building will be designed to be energy-efficient and environmentally friendly and will feature large windows to make use of natural light. Flexsteel plans to use its products throughout the office, including its DMI commercial office, Flexsteel hospitality and home furnishings lines.

Plans for the building allow for expansion to take advantage of future growth opportunities.

"We see the new headquarters as an ideal place to conduct business and show our visitors the natural beauty of the expanding Port of Dubuque," said Justin Mills, director of advertising and public relations. "As we expand on the success of the area and continue our investment in our vital and growing community, we are confident that this is a great location for our corporate offices. The new global headquarters building will be adjacent to the City's Port of Dubuque parking ramp."