By: the Staff Reporters of Georgia Weekly Post
Newell Rubbermaid announced plans to relocate its corporate headquarters, presently located at 3 Glenlake Parkway in the City of Sandy Springs to a newly acquired building at 6655 Peachtree Dunwoody Road in Atlanta, GA. The move is anticipated to take place in 2016.
The new Headquarter, which will be designed by global architecture and design firm Perkins and Will, is expected to be more tech-friendly, productive and mobile according to a statment by the CEO. "This shift is likely to help transform Newell into a brand-centric and innovative company poised for swift growth and enhanced profits." he said.
▲ Newell Rubbermaid's announced plans to relocate its corporate headquarters, presently located at 3 Glenlake Parkway in the City of Sandy Springs. Newell retains several locations in the Atlanta area on Glenlake Parkway, Rosswell Road in Sandy Springs, Wilson Way in Smyrna, Georgia.
Corporate watchers note that Newell, in their opinions, has a strong portfolio of well-established brands, such as Sharpie, Paper Mate, Dymo, Expo, Waterman, Parker, Irwin, Lenox, Rubbermaid, Levolor, Graco, Calphalon and Goody.
Apart from this, the company, through re-organizations, has been trying to reduce its expenses through its Project Renewal Program. Newell Rubbermaid expects annualized cost savings of about $620 million to $675 million from the program by 2017-end. The company intends to utilize a major portion of these savings to accelerate growth.
▲ Present Global Headquarters of Newell Rubbermaid's at 3 Glenlake Parkway, sandy Springs.
Concurrently, the company is trying to further boost its portfolio by investing in the key segments, reducing activities with marginal profitability and pursuing acquisitions. "We expect these steps to help the company to be more profitable in the long run.' said an expert.
Moreover, Newell, which shares space with Kimberly-Clark Corp. KMB and CVSL Inc. CVSL, boasts of a strong balance sheet that offers it the financial flexibility to enhance shareholder returns and drive future development through value-added investments aimed at accelerating growth and expanding margins. The company’s commitment toward enhancing shareholder value is reflected in its robust dividend payment history and share repurchase programs.
"All the aforementioned factors underscore Newell’s growth prospects, installing confidence in investors. It's a buy" said a cable network stock watcher recently.