Lead photo: Simpson Strong-Tie’s new distribution center in Las Vegas. (Simpson Strong-Tie photo)
Structural connectors and building solutions manufacturer Simpson Strong-Tie announced the approval of an economic development grant to expand the company’s headquarters to Plano, TX. The news came a week after the announcement of a new distribution center in Las Vegas.
On the headquarters front, Simspon received an $800,000 economic development grant, approved by the Plano City Council, to support its expansion into a 38,372-square-foot space. The corporate office is anticipated to create approximately 300 jobs in the Granite Park Six area, located at:
5525 Granite Parkway
Plano, Texas
The corporate office is expected to employ approximately 300 individuals in the city.
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Based in California, Simpson Strong-Tie produces structural solutions for wood, steel and concrete structures, including connectors, fasteners, anchors and other components, while also offering digital tools to support the building design process.
“This new home office will allow us to continue to deliver exceptional service to our customers while supporting the company’s strategic growth,” Simpson Strong-Tie President and CEO Mike Olosky said in a March 25 company news release. “This expansion reinforces our dedication to providing industry-leading solutions and building even stronger relationships with the communities we serve.”
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On March 19, Simpson Strong-Tie announced the opening of a 59,436-square-foot distribution center located in Las Vegas, which serves as the primary facility for the company’s products throughout the Las Vegas region.
The facility also houses offices and a spacious training center for company, customer and industry partner meetings, professional development and collaboration. As of its grand opening on March 18, the facility housed 872 separate SKUs across product lines that are most popular in the Las Vegas territory. These include connectors for wood and steel construction, screws and nails, anchoring systems, shearwalls and outdoor decorative hardware.
Simpson Strong-Tie staff cut the ribbon on the company’s new distribution center in Las Vegas on March 18. (Simpson Strong-Tie photo)
2024 Financial Results
The company released its 2024 full-year financial results on Feb. 10, showing an increase in sales year-over-year while margins decreased.
Simpson Strong-Tie reported full-year sales of $1.7 billion for its North America segment, a 1.1% increase from the same period a year prior. The company attributed the increase to higher volumes.
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Gross margin for its North America segment decreased to 49.0% from 50.3% in 2023, attributed to higher factory and overhead as well as warehouse costs, partially offset by lower material costs, as a percentage of net sales.
Operating profit of $439.6 million, declined by 7.1% year-over-year. The decrease was primarily due to lower gross profit as well as increases in operating expenses.
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