Finlays USA Opens New R&D Facility in Rhode Island
Finlays Extracts & Ingredients USA Inc announced the opening of its new Global Research and Development Centre and Manufacturing Plant at Quonset Business Part in Quonset, Rhode Island.
Finlay’s intends the new USD $17 million, 28,000 square foot research and development facility to expand production capacity and product innovation capabilities to meet the ever-increasing demand for tea and coffee ingredients and solutions. The company chose Rhode Island for its new R+D facility as it had acquired RI-based Autocrat LLC in 2014, which produces the official state drink, coffee milk. The initiative was made possible in part by Qualified Jobs Incentive and Rebuild Rhode Island tax credits offered by the state.
The Governor of Rhode Island, Gina Raimondo, will join Stefan Pryor, Rhode Island Secretary of Commerce, and Steve Olyha, CEO of Finlays USA, at the opening ceremony that will take place Thursday, 5 April.
As part of parent company Finlays’ global strategy to be the preferred partner and source of tea and coffee products for the world’s beverage and food service brands, the new facility will enable Finlays to deliver innovation for new customer opportunities and requests, and keep pace with shifting trends and consumer preferences.
Future plans include an additional manufacturing facility of over 65,000 square feet. Finlays will maintain operations in its Lincoln, RI and Florham Park, New Jersey locations.
“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,” says Steve Olyha, CEO of Finlay USA.
Finlays USA is the American operator of UK-based Finlays, a global leader in the development and distribution of tea and coffee extracts that was founded in 1750.