This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

Beam Selects Franklin County To Build 600,000 SQ. FT. Distribution Center To Support Continued Business Growth

FRANKFORT, Ky., Jan. 30, 2014 /PRNewswire/ -- Beam Inc. (NYSE: BEAM), a leading global premium spirits company, today announced that its new state-of-the-art distribution center will be located on a 92-acre site in Franklin County at 1509 US Highway 421 (Leestown Road).  Spanning 600,000 square feet upon completion, equivalent to 13 football fields, this facility will be the largest of its kind in Franklin County.

"Beam is a company that's on the move, continuously creating opportunities for the Commonwealth," said Governor Steve Beshear. "As Beam continues to grow for the future, the people of Kentucky benefit by the creation of more jobs and opportunities for years to come."

"With two-thirds of Beam's total spirits case volume being produced in Kentucky, having our new Beam long-term distribution facility in close proximity to our production will help us gain increased efficiencies in our supply chain," said David Hunter, vice president of global manufacturing for Beam. "We are excited to be the catalyst for more growth in Kentucky."

Construction is expected to commence in late February and be completed by year-end. The new center, which will be operated by a third-party logistics provider to be named at a later date, is slated to open in the first quarter of 2015 and employ an estimated 60 individuals. It will exclusively serve Beam's broad portfolio of distilled spirits brands and will warehouse Beam's finished case goods bottled in Frankfort before they are shipped to distributor partners for sale in the U.S. and international markets.

"The Bourbon industry is a key driver of our economy in the Commonwealth, and Beam is certainly on the forefront of that growth," said Congressman Andy Barr. "The construction of this new distribution facility means the creation of more jobs for central and eastern Kentuckians, and I thank Beam for their contribution to our signature Bourbon industry and the people of our Commonwealth."

"Beam is such a strong business partner and contributor to our community, and we couldn't be more pleased that they have chosen to further expand in Franklin County," said County Judge Executive Ted Collins.

H&M Construction Co., Inc. has been hired as the contractor to design the building, develop the site and build the facility from the ground-up.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

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