Ottobock, Minneapolis, Minnesota, announced it is relocating its North America logistics and distribution operations from Minnesota and Toronto, Ontario, Canada, to Louisville, Kentucky. The move is part of an expanded investment by Ottobock in the United States and North America that includes the goal to triple its business, the company said. Louisville was selected based on its location as a strategic shipping hub.
“Louisville has a strong reputation of shipping expertise and we believe the creation of a regional distribution center there will build efficiency in today’s competitive environment and support the accelerated growth we are anticipating,” said Andreas Schultz, North American regional president and CFO of Ottobock. “The other top consideration in choosing a new location was an environment where our employees and the organization could flourish….”
The transition to Louisville is underway with limited receiving, stocking, and shipping of Ottobock mobility products taking place and the warehouse being readied for additional inventory. Hiring has also begun to fill an estimated 20 new jobs by October 2014, and that number is expected to grow to 25 over the next three years. Ottobock has also received $375,000 in tax increment financing for up to ten years to assist the company in its $3.375 million relocation and growth investment.
