June 9, 2015
FOR IMMEDIATE RELEASE
June 8, 2015
For more information,
Contact: Amanda Shell Jennings
Moxley Carmichael
(865)255-0661
Dura-Line, a leading international manufacturer and distributor of communication and energy infrastructure products and systems, is expanding its Knoxville-based global headquarters and will nearly double its office space from 24,000 to 40,000 square feet. The expansion will allow for further growth in staffing at the Knoxville headquarters.
The company, located at Parkside Plaza I in Turkey Creek, also will separate its global corporate office and establish a newly expanded office for its United States manufacturing and distribution operations.
“We currently have both global headquarters and United States business, including all support, operating in the same building on the same floor,” said Dura-Line President and Chief Executive Officer Paresh Chari. “Since locating to Knoxville in 1996, Dura-Line has expanded from a company with $60 million in revenue to more than $700 million and has added the staff to match that growth.
“Since we became part of a multi-billion-dollar global chemicals company Mexichem, we have aggressive growth plans and are simply running out of space.”
Dura-Line was founded in 1971 in Middlesboro, Ky., and has maintained its global headquarters in Knoxville, Tenn. since 1996. Since its founding, the company has grown from a $25 million single pipe extruding plant to a $700 million global business with 20 manufacturing facilities, 10 of those located in the United States.
Mexichem, a global chemicals and petrochemicals company based in Mexico, acquired Dura-Line in 2014 and has continued to support Dura-Line’s growth in the United States and abroad. This month, Dura-Line opened its fourth manufacturing facility in Hyderabad, India to support the company’s growth in India, rest of Asia and the Pacific Rim.
“The expansion of our headquarters is key to Dura-Line’s continued success in the United States and abroad,” Chari said. “Our new parent company, Mexichem, is committed to support Dura-Line’s long-term growth. The expanded office will also allow us to locate Mexichem’s back-office functions for all its other US businesses in the same building.
“Through this expansion, we can accommodate the new staff we have already brought on board, and the new positions we plan to hire in the next year.”
While Dura-Line has an established global presence, the company also is rooted in East Tennessee and Knoxville.
“We established our global headquarters here in 1996, and we remain committed to this region,” Chari said. “One of our U.S. manufacturing facilities is located in Erwin. We also work closely with the University of Tennessee on various projects, including training our senior executives and middle management. We also hope to add a new Center of Excellence in East Tennessee for R&D and training in the Knoxville area.”
Investors Management Service, Inc. (IMS), a real estate management firm, has worked with Dura-Line since the company located its global headquarters in the newly constructed Parkside Plaza I executive office building in Turkey Creek in 2008. The new office space will include a complete interior renovation of the fifth floor and a partial renovation of the third floor. Construction will be completed by Jenkins and Stiles Construction Company and design services will be furnished by Design Innovation Architects.
“We specialize in customizing every office suite to accommodate the individual needs of our clients,” said Deborah Petrolina, president of IMS and real estate broker for Parkside Plaza. “Our corporate office space in Parkside Plaza is flexible, and throughout Dura-Line’s rapid growth, we have been able to expand and customize their space and handle every detail – from leasing to the build-out of their space to day-to-day property management.
“Working as a team with Matt Fentress of NAI Knoxville representing the landlord on this transaction, we are pleased to be able to support Dura-Line with a new corporate office and global headquarters and allow the company’s growing team to focus efforts on their business.”
Dura-Line will move into its expanded Parkside Plaza office August 2015. Parkside Plaza I is a 100,000-square-foot Class A corporate office building located in Turkey Creek in West Knoxville. In addition to Dura-Line, tenants include Raymond James and Innovative Design. Office space is available for lease by contacting IMS at 865-522-5500.
About Dura-Line
Dura-Line is a leading international manufacturer and distributor of communication and energy infrastructure products and systems, including conduit, cable-in-conduit, pipe and accessories. Dura-Line’s products are designed to provide for protection and fast, safe installation of communication networks, power cables and pressure pipe for a wide variety of markets, including telecommunications, enterprise networking, energy, transportation, wastewater and aquaculture. Acquired by Mexichem in 2014, Dura-Line has manufacturing facilities in the United States, Mexico, India, Oman, Europe and South Africa. For more information about Dura-Line, visit www.duraline.com or email [email protected].
About IMS, Inc.
Founded in 1980, Investors Management Service, Inc. (IMS) is a woman-owned business committed to providing comprehensive property management and real estate brokerage. IMS manages exclusively top quality Class A properties and is actively involved in the development, acquisition and management of more than 1,000,000 square feet of diversified real estate. For more information, visit www.ims-inc.info or email [email protected].
About NAI Knoxville
NAI Knoxville is a member of NAI Global. NAI Global has members in over 350 offices and countries and has an annual commercial and industrial transaction volume of $45 billion making it the world’s largest managed real estate network. www.naiknoxville.com
