In what it calls a move to optimize usage of its corporate assets and enhance efficiency in its service to key growth markets, RadiciSpandex Corp., maker of RadElast spandex fibre, has announced the consolidation of its prime real estate space in Gastonia, NC. 

The company is to sell one of two adjacent buildings at its headquarters to improve cost efficiencies. Its distribution centre, corporate offices, and finishing operations will all remain at the Gastonia site.

“Selling one of the buildings in Gastonia will generate cash to invest into R&D and will enhance efficiency improvements,” stated Marty Moran, CEO of RadiciSpandex Corp.  “In addition, the current warehouse space is under-utilised since we have focused on improving our planning and logistics while reducing inventory levels to better serve our customer base.”

RadiciSpandex says it continues to focus on core markets with recent capital investments to support expansion of the diaper elastic market, among others.  Additional capacity for this end-use category is already required as the planned expansion previously announced by RadiciSpandex will not meet the growing customer demand, the company said.

Based in Gastonia, NC, RadiciSpandex Corp., maker of RadElast spandex fibre, is a U.S. subsidiary of RadiciGroup, an international fibres conglomerate. With 2009 sales of EUR 774 million and more than 3200 employees worldwide, RadiciGroup is one of Italy's leading chemicals multinationals, a diversified group specializing in chemicals, plastics, synthetic fibres and textiles.