Brazil will soon become home to the headquarters of a multi-national corporation.
IVC Industrial Coatings, Inc., Brazil location, General Manager Bud Beverly confirmed to The Brazil Times a deal has been reached for the purchase and lease of the former MI Windows and Doors building. IVC is moving its corporate headquarters from Indianapolis to the new location.
"We have purchased approximately 150,000 square feet of the building and are leasing the other 35,000 for a short period of time with the intent to purchase down the line," Beverly said. "Over the next few weeks, we will begin construction and making upgrades to the facility."
IVC representatives have been in negotiations to purchase the building for more than a year, as officials were waiting for results from environmental testing of the area.
"Environmental testing had to be approved before the purchase could go through," Beverly said.
With the move, Brazil will have two IVC locations, with the existing powder division located at 2831 E. Industrial Park Dr. Beverly said the current location will house the corporate offices and administration.
"Our chemists and other workers will be at the new location, which will also be producing liquid paint products," he said.
While financial terms of the deal were not disclosed, Beverly told The Brazil Times he hopes the new plant will be in full operation by the end of the year.
"We are not sure at this time how many open positions will be available as we are offering our current employees the option to transfer to Clay County," he said. "As we move closer to the time we open, we will have a better idea of how many may be hired."
Beverly added the tax abatements, which the Clay County Council approved in April 2008, are still in effect and work to get the building ready will begin soon.
"We will be cleaning up the facility and getting things set up and ready to open for business," he said.
IVC has other locations in the United States in Arizona, Georgia and Michigan, along with operations worldwide in China, Malaysia and the United Kingdom.
The corporation is also a leading resource and supplier in powder, liquid and specialty coatings for commercial and consumer customers including Bose, Dynamic Plastic Corporation and Herman Miller.
To learn more about IVC, log on to www.teamivc.com.