YADKINVILLE — A long-time Yadkin County industry will soon be able to expand thanks to a recent purchase it has made of another long-time area company’s old building.
Lynn Myers of Myers Auction Service and his broker Ralph Harding with Real Estate Works recently put the former J.H. Craver building up for auction. Harding and Myers said the auction drew attention for customers from across the country, but they were thrilled that the final purchase was made by the owners of Diversified Foam, the company directly next door to the Craver building.
“It’s an excellent opportunity for Yadkin County,” Harding said. “This is one time that both sides won. The sellers wanted Brett [Matthews] and his family to have it and Brett had a need and he got a good deal. He can be able to expand his business for Yadkin County and for his employees.”
Brett Matthews, vice president of Operations for Diversified Foam, said that for the 30-plus years the company has been in business, it had great neighbors in the Craver building. The J.H. Craver and Son company began around 1924 manufacturing plow handles. In 1960, the company moved to the building on U.S. 601 and began manufacturing furniture.
“You couldn’t ask for anybody better,” Matthews said of his neighbors. “I’m very proud to have been able to purchase this building from them. Opportunities like this don’t come around very often.”
Diversified Foam’s current building, located at 1813 U.S. 601 has between 70,000 and 75,000 square feet. With the purchase of the Craver building, the total square footage will be 120,000 to 130,000 square feet and include 17 to 18 acres of land.
The company makes fabricated foam for custom packaging for several different industries and component parts for the automotive and aerospace industries.
“We’re gonna use this expansion to further our long-time plans through investment in the company in new technology and expanding our capabilities and product offerings,” Matthews said.
Matthews said after the sale closes next month, they will begin some renovations to the Craver building that will include a connector between the two buildings. Raw materials and finished goods will be stored in the Craver building and the Diversified Foam office also will be housed there.
“In bringing the raw materials and finished goods over to the [Craver] building, as well as our office, it will free up about 20 to 25 percent of our manufacturing building for more manufacturing expansion,” Matthews said.
The company employs around 40 people and Matthews said the purchase of the Craver building and expansion of its manufacturing and storage space will create new jobs.
“This expansion will create jobs, as far as how many, right now that remains to be seen, but it definitely will increase our number of employees,” Matthews said.
As the company began looking at possible expansion, it considered several options including building on its existing property or moving away from the area to a new location. Matthews said that while moving to another area was considered, it was not a good option for the company and something the leaders wanted to avoid. As long-time residents and business owners in the county, Matthews said Yadkin County is a special place and not one he was keen to leave behind.
“We like Yadkin County,” Matthews said simply. “We depend on the skilled employees that we have and they come from Yadkin County and Davie County and they are who make Diversified Foam, so moving the operation was not a good option. That’s why we chose to make the investment in Yadkin County because of the skilled workforce and the labor market here in the county.”
Matthews also said he was pleased with the growth being seen across the manufacturing industry.
“The manufacturing sector in the south, in my opinion, is in a really good position,” he said. “We’ve seen several industries with positive growth the last couple of years coming out of the recession and I think we’re positioned, especially with the new building, to take on the extra capacity in the market.”
Harding also said he thought the deal was an indicator of the future success of the area.
“I think Yadkin County’s going to continue to grow,” he said. “I think it’s a diamond in the rough.”
Kitsey E. Burns may be reached at 336-679-2341 or on Twitter @RippleReporterK.