K-Bro Prepares to Move in Toronto
K-Bro Linen Systems Inc., Edmonton, Alberta, Canada, recently announced plans to relocate to a new facility in Toronto. K-Bro has made a long-term commitment for its Toronto facility with a lease term, including extensions, of up to 30 years, according to a news release.
“We are very pleased to have the opportunity to make this long-term investment in Toronto,” said Linda McCurdy, president & CEO. “We believe that there are significant opportunities in Toronto for growth in our healthcare and hospitality volumes. Our new state-of-the-art plant will provide us with operating efficiencies that will enable us to become even more cost effective, and the additional capacity will give us the ability to grow for years into the future. We look forward to moving by the end of this year and to serving the many healthcare and hospitality customers in the Greater Toronto area.”
K-Bro is Toronto's largest hospitality and second largest healthcare linen processor, the release said. The new facility will enable K-Bro to more than double its current capacity. The total investment in the new facility is projected to be up to $35 million, and K-Bro plans to finance the entire amount from its existing $50 million credit facility. The plant will be located in Mississauga, and the company expects to complete its transition to the new facility before the end of 2016, the release said.
To read the full release, click here.