CSL - Carlisle Companies Announces Plans to Expand Research and Innovation Center in Carlisle Pennsylvania
Carlisle Companies Incorporated (NYSE:CSL) today announced plans to invest more than $45 million to build the next phase of its state-of-the-art Research & Innovation Center in Carlisle, Pennsylvania. Consistent with Carlisle’s Vision 2030 strategy to achieve above-market growth and additional price for value, the expansion further positions Carlisle to leverage mega trends around energy efficiency, labor savings and the re-roofing cycle.
The Carlisle Research & Innovation Center expansion will add over 50,000 square feet of additional lab space, work area, and equipment stations to the existing facility in Carlisle and provides world-class office and collaboration space for planned increases in innovation staffing. The planned expansion will more than double the current square footage dedicated to research and innovation in Carlisle, PA, and will help accelerate new product development and commercialization focused on increasing annual new product revenue in line with Carlisle’s Vision 2030 objectives.
Chris Koch, Chair, President and Chief Executive Officer, said, “After announcing our Vision 2030 strategy in December of last year, and delivering on our commitment to become a pure play building products company, we continue to focus on unlocking additional above-market growth by increasing our R&D spend to augment returns across our full suite of products and services. The next phase of our innovation center expansion will allow us to accelerate the development of new programs, add new testing and analysis capabilities, and drive speed in our new product introduction process. Consistent with Vision 2030, we plan to continue innovating by leveraging energy-efficiency trends, bringing solutions to solve the contractor’s need for more labor-saving efficiencies, and driving more content per square foot with integrated system solutions.”
About Carlisle Companies Incorporated
Carlisle Companies Incorporated is a leading supplier of innovative building envelope products and solutions for more energy efficient buildings. Through its building products businesses – Carlisle Construction Materials (“CCM”) and Carlisle Weatherproofing Technologies (“CWT”) – and family of leading brands, Carlisle delivers innovative, labor reducing and environmentally responsible products and solutions to customers through the Carlisle Experience. Carlisle is committed to generating superior shareholder returns and maintaining a balanced capital deployment approach, including investments in our businesses, strategic acquisitions, share repurchases and continued dividend increases. Leveraging its culture of continuous improvement as embodied in the Carlisle Operating System (“COS”), Carlisle has committed to achieving net-zero greenhouse gas emissions by 2050.
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Mehul Patel
Vice President, Investor Relations
Carlisle Companies Incorporated
(310) 592 - 9668
mpatel@carlisle.com