The Imperial Cup building that has stood empty for almost a decade just north of LaFayette, Ga., is being revived by another expanding business in Lafayette.
Euclid Chemical Company, known locally as PSI Fibers, on Monday purchased the idled facility on U.S. 27 from the Rex Allen family for an undisclosed amount.
"This is certainly a huge psychological boost for LaFayette because the building has sat empty for so long," said Larry Brooks, executive director of the Walker County Development Authority. "We look forward to working with Euclid as it ramps up this new expansion."
PSI Fibers, which makes synthetic fibers used in various concrete applications, currently is housed in a 40,000-square-foot building in LaFayette just off Chattanooga Street, Brooks said. The old Imperial Cup building is five times that size at 200,000 square feet.
"We are having to expand our operation due to a growing market for our product line," said Grant Beasley, director of operations for Euclid Chemical Co.
PSI Fibers employs about 30 laborers, Brooks said. But the company looks to significantly increase its staff as it settles into its new location.
"This is something we have hoped for for nearly a decade," said Walker County Commissioner Bebe Heiskell. "Guess its true that good things come to those who wait."
The Imperial Cup Building was built over three decades ago and is most remembered for serving as the home of Imperial Bondware before the company was sold by the Allen family.
Since that time, the building has served as a warehouse for various companies, including Bluebird Bus Corp., before it closed its LaFayette operation in 2010.
Euclid Chemical is yet to detail its hiring plans, but company officials said the hiring probably won't begin until late summer when new machinery becomes available for the plant.
The county economic development authority will meet at noon today in the Civic Center building in Rock Spring to discuss tax incentives for the PSI Fibers relocation and expansion.The incentives will depend upon the size of the investment in the building and equipment and the number of new employees added by the company, Brooks said.
Euclid Chemical Company is owned by RPM International of Ohio.
Contact Tim Omarzu at firstname.lastname@example.org or at 757-6651.