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Strategic Decision Preserves Business Outlook and Financial Stability
SCHENECTADY, NY – April 14, 2020 – SI Group a leading developer and manufacturer of performance additives, process solutions, pharmaceuticals and chemical intermediates, announced today the decision to no longer pursue the relocation of its Corporate headquarters to the Golub Corporation building, headquarters to Price Chopper/Market 32 in Schenectady, NY. This decision follows the announcement made in December 2019 and is aligned to the company’s current priorities and business outlook relating to COVID-19.
“As with all businesses, our global company is changing rapidly due to COVID-19, and we are working tirelessly to ensure the safety of our employees, our manufacturing sites and our communities,” said David Bradley, SI Group President and Chief Executive Officer. “Part of that safety is protecting our financial well-being as a business and an employer. Therefore, we are looking at all projects and investments very closely right now in relation to the economic impacts that are still to be realized.”
SI Group worked in collaboration for several months with the Golub Corporation, the Galesi Group, CBRE-Albany, the Schenectady County Metroplex Development Authority, and many other community partners on this agreement. “We are grateful for the community support we have received throughout this project and for the relationships we have built. This is a difficult decision, but one that is necessary given the current economic and market environment,” Bradley continued. SI Group Corporate Headquarters will remain at its current location on Balltown Road in Niskayuna. The property is also no longer listed for sale.
About SI Group
SI Group is a leading global developer and manufacturer of performance additives, process solutions, pharmaceuticals and chemical intermediates, with strong positions in the plastics, oilfield, rubber, fuels & lubricants, active pharmaceutical ingredients and industrial resins industries. SI Group solutions are critical to the quality and performance of countless industrial and consumer goods. Headquartered in Schenectady, New York, SI Group operates more than 30 manufacturing facilities on five continents with approximately $2 billion in annual sales, and more than 3,000 employees worldwide. SI Group is a portfolio company of SK Capital Partners. SI Group is The Substance Inside. For more information, visit www.siigroup.com
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