Last edited 4:16 p.m., Jan. 31, 2013A new company under the SRC Holdings Corp. banner opens tomorrow. Meanwhile, another subsidiary of the Springfield-based employee-owned manufacturing conglomerate has paved the way to add a 134,000-square-foot warehouse in the Chicago area.
Open for businessThe business license for SRC Holdings' Global Recovery Corp. took effect Jan. 15, and the 10-employee business is opening in 136,000 square feet of leased space at 2065 E. Pythian St., according to General Manager Neil Chambers. He noted the company plans to hire two additional employees within 45 days.
Chambers said Global Recovery Corp. signed a long-term lease with an option to buy the facility owned by Warren Davis Properties. The building and land - roughly 17.6 acres - appraised this year at $4.5 million, according to the Greene County assessor's
website.
Global Recovery Corp. was formed to purchase and liquidate surplus and obsolete materials obtained from the automotive, heavy duty, construction and mining industries. It also will sell scrap metals, Chambers said.
"(SRC's) other companies deal directly with (original equipment manufacturers), and they have contracts with OEMs. We try to provide a service for our sister companies by helping them to fill contracts with their OEMs," he said.
Chicago warehouseSRC Holdings subsidiary NewStream Enterprises LLC plans to open a warehouse in the Chicago suburb of Joliet in April.
The 134,000-square-foot facility was leased this month for an undisclosed price, according to Marketing and Account Manager Sara Kaderly.
The warehouse adds a second U.S. location and a third worldwide. Kaderly said NewStream's 230,000-square-foot Springfield warehouse is located behind the former Solo Cup plant, and the company operates a 15,000-square-foot Toronto facility.
The 40-employee Joliet warehouse will be a warehousing and packaging facility for the supply chain management company.
“The Chicago area is a major hub for distribution in the United States, “ NewStream General Manager Gary Goetz said in a news release. “The location will provide NewStream the opportunity to diversify its business with its proximity to leading manufacturers.”
SRC Holdings employs more than 1,200 across about 32 companies, which produce more than $400 million in annual sales, according to SRC Holdings Executive Vice President Scott Dalenberg.
