Spectrum Brands to Relocate World Headquarters
MADISON, Wis.-Spectrum Brands will move its world headquarters, several North American divisional operations and its technology center from here to the nearby community of Middleton, Wis., by the end of next year.
The facility is located in the Middleton's Discovery Springs area. In a company statement, Spectrum said it had initially planned to relocate its headquarters and North American Remington operations to Miramar, Fla., where its Russell Hobbs home-appliances subsidiary is located. The company changed its mind because of the cost savings and "major space efficiencies" in the Middleton facility, plus a $4 million award over five years from the Wisconsin Economic Development Corp.
Dave Lumley, Spectrum's CEO, said, "In this challenging economic environment in which companies operate, we must reduce costs to maintain an operating structure aligned with today's market conditions, and enable Spectrum Brands to remain competitive and continue to grow over the long term." Lumley admitted that the company was close to a decision to move to Florida.