Business
Innovest to Open 193,000 sq. ft. Industrial Operations Center in Bedford, OH
Innovest to Open 193,000 sq. ft. Industrial Operations Center in Bedford, OH.
About this update from Innovest Global Inc
[{"type":"text","content":"\n \n Innovest Global Inc. (OTC Markets: IVST), \n a diversified industrials company, has signed a lease to consolidate its \n industrial operations into one location. The location will provide \n financial and operational efficiencies, as well as expand manufacturing \n capacity.\n \n\nThis press release features multimedia. View the full release here: \nhttps://www.businesswire.com/news/home/20190515005066/en/\n\n \n \n Home of the Future Innovest Global Industrial Operations Center in Bedford, OH (Photo: Business Wire) \n\n\n \n Direct Benefits Include:\n \n \n \n Manufacturing at one location instead of transporting work-in-process \n between locations\n \n \n Double space, more than tripling our manufacturing capacity all under \n one roof\n \n \n Eliminates potential for scheduling delays for over $50 million in \n pending competitive manufacturing bids currently outstanding\n \n \n Direct facility lease costs only slightly higher than current multiple \n facilities\n \n \n Warehousing for building materials inventory, and distribution close \n to all major Cleveland, OH freeways.\n \n \n \n Currently, Innovest manufactures curtainwalls at two separate facilities \n a quarter-mile apart on Grant Avenue in Cleveland. The company delivers \n between $400,000 and $1.5 million per month in production. However, \n since the time of acquisition of the business in December 2018, the \n curtainwall team led by John Yenges has submitted pending competitive \n bids to clients in excess of $50 million, and expanded the product set. \n Pending bids, aligning with expiring leases at inefficient facilities, \n made for an easy all-encompassing centralized decision.\n \n \n “We’re taking advantage of a great opportunity to make our industrial \n operations efficient and scalable. Costs for this one facility, which is \n close to all major freeways and more than doubles the size of our \n current operation, are only slightly more than our two current \n locations, and bring many strategic efficiencies,” said Dan Martin, \n Innovests founder, Chairman, and CEO. “Our focus in 2019 is doing all of \n the little things to make sure the business will scale well and provide \n meaningful returns to shareholders in 2020 and beyond. The recent \n addition of Plante & Moran to our service team, and this facility \n addi...