Eaton Steel Corporation is expanding our Oak Park/Corporate Headquarters complex. We recently purchased three buildings to the east of the existing Oak Park facility for the planned expansion.
Demolition of the existing buildings has started and should be completed by the end of December. The new structure should be completed in the summer of 2012 and will give Eaton Steel an additional 175,000 square feet of warehouse space and additional office space.
Customers will reap the benefits because the new space will give us even more capacity to manage contractual stocking programs that provide just in time deliveries and reduce the risks of stock outages that our customers require. Our relationships with steel producers has always given us good pricing leverage, and the ability to warehouse more stock increases that advantage even more.
We could have expanded in several different locations, but we chose to build here to take advantage of the efficiencies of keeping operations close to home. It also provides a bit of neighborhood improvement to Oak Park, where we've been since 1967, and we like that, too.