IWCO Direct Acquires Cox Target’s NC Facility
CHANHASSEN, MN—IWCO Direct to the rescue!
The direct marketing solutions provider enhanced its capacity, expanded its geographic footprint and rescued nearly 450 jobs with the acquisition of Cox Target Media’s Valpak plant in Elm City, NC. The deal caps a two-year search by Cox Target, which in 2004 announced it was consolidating its operations into a new Florida facility and searching for a buyer to take over the Elm City plant.
“This facility and its skilled workforce fully supports IWCO Direct’s unique, integrated business model that delivers direct marketing like no one else,” IWCO Direct President and CEO Jim Andersen said in a statement.
The Elm City employees will have the opportunity to transition to IWCO Direct during the next 12 months. The phased-in transition will begin in April 2007 and will be completed by October 2007.
IWCO Direct also plans to add nearly 100 new positions at Elm City over the next two years and invest $18.9 million over the next three years.