Finlays invests $17million in R&D
Finlays Extracts & Ingredients USA Inc. is investing U.S.$17 million to develop a new facility intended to expand their production capacity and product innovation capabilities for tea and coffee products.
Finlays' plans to build the 26,756 square metre facility within the Quonset Business Park on Ocean State Drive in North Kingstown, Rhode Island. The company will maintain operations in its Lincoln, Rhode Island and Florham Park, New Jersey locations.
This new structure is part of Finlays’ global strategy to be the preferred source of tea and coffee products for the world’s beverage and food service brands. The facility will combine research and development along with its manufacturing plant. The manufacturing plant will launch as the second phase, and is planned to span 6,038.7 square metres.
“We continue to strive for excellence through our commitment to delivering innovative ingredients and unique solutions. This new investment will better position us as a global strategic partner, with increased speed to market in delivering unique, high quality, customized food and beverage ingredients, said Steve Olyha, CEO of Finlays USA in a statement.
Finlays is currently operating in all parts of the tea supply chain to create “bush to cup” and “bush to bottle” tea and coffee knowledge.
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