This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Spectrum Brands Holdings Opens New World Headquarters Building In Greater Madison, Wisconsin Area

Spectrum Brands Holdings, Inc. (NYSE: SPB) announced today its world headquarters, several North American divisional operations and its technology center, in all totaling more than 500 full-time employees, have moved into a newly built and more economical and energy-efficient facility in the Discovery Springs area of Middleton, Wisconsin, a suburb of Madison. In January 2012 the Company announced plans to move to the new facility before the end of 2013.

The Company, which considered moving its world headquarters (relocated from Atlanta in 2010) and North American Remington® personal care operations to Miramar, Florida, where its Russell Hobbs home appliances subsidiary acquired in June 2010 already occupied a suitably sized building, decided to stay in the greater Madison area due to major space efficiencies and other cost savings. The new building can accommodate as many as 675 full-time employees.

Spectrum Brands said its Middleton facility also is a more economical and energy-efficient option than renewing the lease on its long-time headquarters at 601 Rayovac Drive in Madison, which will expire on December 31, 2013. The Rayovac Drive facility is owned by a New York-based real estate group.

“In this challenging economic environment in which companies operate, we must reduce costs to maintain an operating structure aligned with today’s market conditions and enable Spectrum Brands to remain competitive and continue to grow over the long-term,” said Dave Lumley, Chief Executive Officer of Spectrum Brands Holdings. “That is why we moved our world headquarters from Atlanta back to the greater Madison area three years ago.

“We were close to a decision to move up to 300 full-time jobs from the Madison area to Florida,” Mr. Lumley said. “Instead, we brought 60 to 70 professional jobs to Wisconsin, which adds to the nearly $100 million of direct annual economic impact Spectrum Brands already has on our state, and preserves state revenue from our employee income tax withholdings that would have been lost with a move to Florida.”

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,926.79 +7.20 0.04%
S&P 500 1,982.25 +0.65 0.03%
NASDAQ 4,521.65 -5.8640 -0.13%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs