Ashley Furniture Industries, which employs about 3,000 people in Northeast Mississippi, has bought another facility.
The company, which has manufacturing plants in Ecru and Ripley, and bought a 275,000-square-foot building in Verona earlier this year, said it is buying an expandable 260,000-square-foot building in Ripley to supplement its existing manufacturing operations in the region.
The building is the former Albany Industries plant. Terms of the deal were not disclosed.
“This facility will be used as a support facility for Ashley’s primary upholstery manufacturing operations in Ecru, Verona and Ripley.” said Ashley President and CEO Todd Wanek. “As we expand the capabilities of our existing Mississippi facilities, we weill be moving some functions to this offsite location. This acquisition will assist us in expediting our supply chain vertical integration plans.
Ashley said the latest move is part of its $116 million reinvestment plan for 2013.
Ashley said in the past six weeks, it has added 749 new employees, and has additional opportunities available at its facilities.