Tiffany Opens New Jewelry Manufacturing Center
Thursday, 18 December 2008
Tiffany & Co. (NYSE-TIF), the internationally renowned jeweler, today celebrated the opening of a new manufacturing center in Cumberland, Rhode Island.
The 100,000-square-foot facility is situated on 22 acres in Highland Corporate Park and will manufacture primarily gold and sterling silver jewelry and gift items.
Lincoln C. Almond, Governor of Rhode Island, and Daniel J. McKee, Mayor of Cumberland, joined local civic and corporate leaders at the Founding Ceremony, which marked the official unveiling of the new building. Governor Almond and Mayor McKee assisted Michael J. Kowalski, president and chief executive officer of Tiffany & Co., with the unwrapping of the traditional Tiffany Blue Box(TM) covering the building’s front doors. Guests were then invited inside to enjoy a Breakfast at Tiffany’s and tour the new facility.
“This a great day for the manufacturing and the jewelry industries in Rhode Island,” said Governor Almond. “It’s with a sense of pride that we officially welcome a business with the international status of Tiffany & Co. to northern Rhode Island, and wish them continued success.”
In his remarks, Mr. Kowalski announced Tiffany & Co. grants to two local community organizations: the Cumberland Land Trust, which promotes the preservation and conservation of the area’s natural resources; and Cumberland Rescue Services, an emergency management organization. “It has long been Tiffany’s policy to support local organizations whose efforts benefit the entire community,” Mr. Kowalski said. “We look forward to working with these groups and to developing an active role in the business and civic life of Cumberland.”
Mr. Kowalski praised Rhode Island’s long tradition of jewelry manufacturing and “the talent pool that exists here” as key reasons why the state was selected for the company’s new center, which will eventually employ approximately 450 people. “The facility we dedicate today is state of the art, which will allow this skilled workforce to do their best work, while supporting our growing business and ensuring the highest quality product.”
Tiffany & Co. is the internationally renowned jeweler and specialty retailer. Sales are made primarily through TIFFANY & CO. stores and boutiques in the Americas, Asia-Pacific, Europe, and the Middle East. Direct Marketing includes Tiffany’s corporate division, catalog and Internet sales. Additional information can be found on the company’s Web site at www.tiffany.com and its shareholder information line (800) TIF-0110.
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