Diam Relocates to Yonkers

The company signed a 22-year sublease with Qwest Communications at the former Saks Fifth Ave. distribution facility building earlier this year. The deal was one of the largest lease transactions in memory in Westchester County.

Since then, the company has spent approximately $17 million in renovations to the building. The facility will serve as the company's headquarters, distribution and display center. Diam hopes to have approximately 800 employees at the complex in the near future, most of which will be new hires.

At the ribbon cutting ceremonies for its new headquarters building, Jean-Andre Rougeot, chief executive officer of Diam International, said, "We are very excited about moving to this state-of-the-art facility in Yonkers. It provides additional capacity for our growing business and allows us to better service our customers."

Rougeot said the company initially contacted Yonkers about possibly moving to the city three years ago. The firm did consider sites in Ohio, Pennsylvania, New Jersey and upstate New York, before making its decision on the Tuckahoe Road property. The Yonkers complex allows the firm to consolidate manufacturing operations as well as accommodate its future growth. While the company will relocate its corporate headquarters to Yonkers, Diam will continue to house operations out of its former headquarters space at 26-45 Brooklyn/Queens Expressway West in Woodside.

Yonkers Mayor Philip Amicone said, "In addition to the tax revenues that will be generated by this move, Diam will be providing many opportunities for our residents and I look forward to a long lasting and positive relationship with this premier international organization."

Diam is a major retail merchandising solutions firm that provides point of purchase and retail displays worldwide. It is the parent company of Diam USA and Diam Europe, as well as FieldFlex USA and FieldFlex Europe.

For its decision to relocate to Yonkers, the firm received $10 million in financing from the Yonkers Industrial Development Agency to help pay for the renovations to the building. The company will also receive benefits from New York State's Empire State Development Corp. since the property is located in an designated Empire Zone.