BORDEN — Kimball International Inc. on Tuesday finalized the sale of its Borden manufacturing plant for an undisclosed amount to Borden Business Park LLC.
That company will take control of the 400,000-square-foot facility along Ind. 60 and plans to lease out the space as a business incubator, according to a press release from Kimball.
“We are delighted to be able to acquire this facility and keep it a viable part of the area business community,” said Rick Koetter, manager of Borden Business Park in the release. “The facility has been well maintained over the years and we look forward to welcoming new businesses to our area.”
Koetter — in a partnership with immediate and extended family members — took possession of the property Tuesday.
Tenants are expected to be in place, shortly, the release says.
Kimball’s Borden plant — which made traditional and ornate office furniture — closed in April, when it moved its operations to an existing plant in Salem. The move was to streamline the business, cut overhead costs and allow the company to compete better in the marketplace, according to a previous report in The Evening News.
Kimball cut about 80 jobs — out of 250 — in the move to the Salem facility. The rest of the employees were relocated with the manufacturing plant.
The site contains nearly 17 acres of property and is suitable for warehouse operations and light manufacturing, the release says.
A press conference officially announcing Borden Business Park’s takeover of the facility is planned for 5:30 p.m. today at the former manufacturing plant.
Look for an article in The Evening News on Thursday, providing more information, photos and the details of the agreement.
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