Hayward Holdings Announces Corporate Relocation To North Carolina
Hayward Holdings, Inc. (NYSE: HAYW) announced plans to relocate its corporate functions from Berkeley Heights, New Jersey to Charlotte and Clemmons, North Carolina.
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Rhea-AI Summary
Hayward Holdings, Inc. (NYSE: HAYW) announced plans to relocate its corporate functions from Berkeley Heights, New Jersey to Charlotte and Clemmons, North Carolina. This strategic move will involve transferring approximately 90 corporate employees, including senior leadership and finance teams, to North Carolina, where an existing facility already employs around 850 people.
The relocation aims to enhance synergies, improve decision-making, and achieve long-term cost savings, ultimately benefiting business operations and customer service.
Positive
- Strategic relocation to North Carolina aims to enhance synergies and collaboration.
- Expected long-term cost savings to be reinvested back into the business.
- Proximity to the largest production facility may improve operational efficiency.
Negative
- None.
Details
News Market Reaction – HAYW
The recorded move for HAYW in the trading session of this news was -0.12%.
Data tracked by StockTitan Argus. Session date unavailable.
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Leading Manufacturer of Pool Equipment Will Move Corporate Functions to Charlotte and Clemmons
Berkley Heights, N.J. , March 29, 2021 (GLOBE NEWSWIRE) -- Hayward Holdings, Inc. (NYSE: HAYW) a global designer, manufacturer and marketer of a broad portfolio of pool equipment and associated automation systems, will relocate its corporate office functions to North Carolina from Berkeley Heights, New Jersey. Hayward will move its senior leadership team, corporate human resources, US sales leadership, corporate finance and other strategic functions to Charlotte. Hayward currently employs approximately 90 corporate employees in New Jersey.
As part of the relocation, a number of corporate operational jobs will also move from New Jersey to an existing Hayward production facility in Clemmons, North Carolina. The facility already employs 850 people, which includes the addition of approximately 100 jobs over the past year.
“This is an important strategic next step for Hayward to create greater synergies and cross-functional collaboration to improve decision-making, cycle time and customer service,” said CEO Kevin Holleran. “It will also result in long-term cost savings that will be redeployed back into the business, put us closer to our largest production facility and create easier access to connect with our customers, distributors and channel partners.”
Hayward evaluated multiple relocation sites before determining North Carolina best fit the interests of the company. A number of different entities, including the North Carolina Department of Commerce, Economic Development Partnership of North Carolina, Forsyth County Government, Charlotte Regional Business Alliance, Greater Winston-Salem, Inc., Mecklenburg County and Forsyth County, provided valuable support and assistance for this strategic decision.
The corporate relocation from Berkeley Heights does not impact any other Hayward location in the United States or globally. Relocation will begin in summer 2021 and be largely complete by spring 2022.
About Hayward Holdings, Inc.
Hayward Holdings, Inc. (NYSE: HAYW) is a global designer, manufacturer and marketer of a broad portfolio of pool equipment and associated automation systems. Hayward designs, manufactures and markets a full line of innovative, energy-efficient pool and spa equipment, with brands including AquaVac®, AquaRite®, ColorLogic®, Navigator®, OmniLogic®, OmniHub™, TriStar®, Super Pump®, TurboCell®, pHin™, CAT Controllers®, HCP Pumps and Saline C® Series.
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