Equinox Chemical Company CEO Mark Grimaldi says the locally-based company will announce another acquisition next week.
In December, the company announced it acquired a cleaning product company from Missouri. Grimaldi says he plans to move the plant from Missouri to Albany. He says logistics are 30 percent cheaper in Albany when it comes to shipping products internationally compared to the area in Missouri where the plant is currently.
"While it's not centrally located in the country, it (Albany) has very good channels for logistics for shipping and truck shipments with the interstates close by and logistics hubs for some of the major shippers like FedEx and UPS, and those types of companies are more centrally located to Albany than they were in Missouri," says Grimaldi. "So we can get better rates and you're close to ports here in Georgia and so there's a lot of incentives for that type of commerce going from Georgia to international markets."
Equinox was established in Albany in 2003 when it only had six products; the company now has plants worldwide including in Pittsburg, Paris, Belgium, the Netherlands, Missouri and Albany, Georgia. Grimaldi says he once thought about moving Equinox from Albany to his home state of Pennsylvania, but says he decided against it because it would have been a bad business move.
Grimaldi says 60 percent of the workforce in the company is local. He says many employees he has hired are from companies including Cooper Tire, MillerCoors and P&G.