Fabri-Kal, a maker of plastic food service and custom thermoformed packaging, bought the entire building for its new operations. The company is going to invest $41 million in the next five years to upgrade the building and relocate its current manufacturing operation, now located on E. Cork Street.
This facility was home to the Mead Paper converting operation, which closed in 2001. The facility is in the Airport Certified Industrial Park and overlooks Interstate 94. The site is a brownfield, and the buyer qualified for Single Business Tax Credits when buying the site. Nearby are Stryker Corp.'s state-of-the-art new 400,000 square foot Medical Division manufacturing facility, the newly expanded Stryker Instrument R&D facility and manufacturing facility, and, now under construction, the new Stryker Corp. headquarters. Other neighboring businesses include Pfizer Corp.'s manufacturing and animal health divisions, Summit Polymers, Mann+Hummel Inc. and the Midlink Business Park.
Rob Gemerchak with Philadelphia-based Binswanger represented Franklin in the transaction. He could not be reached for comment.
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