Global to buy N.C. Singer plant
By Jeff Linville -- Furniture Today, February 24, 2003
Mooresville, N.C. — Fast-growing solid-wood case goods importer Global Furniture is set to buy the former Singer plant in Trumann, Ark., and convert it into an assembly operation.
Jack DeBonis, co-owner, president and chief executive officer, said he expects to close the $6.5 million purchase in late March or early April.
Global currently is leasing space at the Singer complex and using it for storage, DeBonis said. He plans to employ about 50 manufacturing workers and 10 clerical people, more than twice the 24 employees working at Global facilities here. The Trumann plant will import solid-wood components and assemble the pieces, beginning with home entertainment centers and walls, then likely moving into bedroom groups, he said.
The Trumann facility is a series of buildings, and Global will use 250,000 to 300,000 square feet initially with room for expansion later, DeBonis said.
"It's geographically perfect as a distribution center," he said, with a container port in Memphis, Tenn., about 40 miles away. The Mooresville facility can't handle all the company's growth, he said, and the Trumann site should strengthen Global's presence in the Midwest.
DeBonis and partner Jim Jones acquired a majority stake in Global in March 2002, with each owning 40%. The company posted a 20% sales increase in 2002 over 2001 and record profits, DeBonis said. He expects 30% sales growth in 2003.
Global's new joint-venture agreement with the Guangming Group, a large, solid-wood case goods manufacturer in northern China, is expected to fuel that growth. Global will be Guangming's exclusive distributor in the United States, with Guangming making parts and shipping by containers and Global finishing product in Trumann.
DeBonis believes Global has an edge as one of the few importers of solid-wood suites.
