We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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During the year following GE Lighting’s acquisition of Boulder-based Albeo Technologies Inc., the company outgrew its operations in Boulder and moved this month to 1844 Nelson Road in Longmont.
GE Lighting officials and local employees, as well as community officials attended the open house and were treated to a tour of the plant. The new space is approximately 174,000 square feet, five times larger than the space Albeo occupied in Boulder.
The space provides room to expand design, testing and manufacturing operations for the company’s industrial LED fixtures. The energy-efficient lighting products are being installed in warehouses, distribution centers, sports arenas, data centers, retail locations and other commercial settings worldwide.
Last year, volume for the Albeo products more than tripled what the company produced in 2012 before its integration into GE. Eighteen of the site’s employees were hired into new positions created in the year since the acquisition. It has 58 employees – 38 hourly and salaried manufacturing-based employees and 20 salaried employees representing a variety of other functions, from finance to technology to human resources.
“I am so proud of the work this team has done to position GE Lighting for deeper growth, all the while adding to our local base of employees and impacting the communities we call home here in Colorado,´ said Jeff Bisberg, GE Lighting’s Boulder site leader, who co-founded Albeo Technologies and served as its CEO. “Colorado is home to more than 1,100 GE employees representing GE Lighting, GE Oil and Gas, GE Power and Water and GE Healthcare, and we look forward to continuing to leave an impact on the communities in this state.”
“The addition of Albeo Technologies’ talented team and award-winning products has not only been an impactful addition to the GE Lighting product portfolio and our profitability, but it has also been a big boost to our commercial customers,´ said Ron Wilson, GE Lighting’s global supply chain general manager. “This is proof that U.S. manufacturing can complete on a world stage and win.”
As part of its “grand opening” event, GE announced an expanded partnership and lighting product donation to the Outreach United Resource Center Inc. (the OUR Center). The OUR Center, which has previously benefitted from GE volunteer support, provides a food pantry, daily hot meals, a clothing bank, day services and homelessness prevention programs, as well as budget counseling, financial and life skills classes to those in need throughout the greater Longmont area.
GE Lighting will work with the OUR center to specify and donate energy-efficient lighting solutions for the OUR Center’s new building, including the locally manufactured Albeo fixtures, at 220 Collyer St. in Longmont.