News & Events

Dr. Shepard-Jones Appointed Director of UK's Human Development Institute


LEXINGTON, Ky. (Feb. 25, 2016) —The University of Kentucky Office of the Vice President for Research has appointed Kathleen Sheppard-Jones as the new director of the Human Development Institute (HDI), a University Center for Excellence in Developmental Disabilities (UCEDD) at UK. 

Sheppard-Jones received her doctoral degree in educational psychology from UK in 2002 and has worked with HDI since 1996. She previously served as training director for the institute. In that role, she built relationships with faculty and staff across colleges at UK and beyond. In addition to her director responsibilities, Sheppard-Jones is also principal investigator across a variety of grants and contracts around quality supports for people through the lifespan. She is currently an adjunct professor in the Department of Early Childhood, Special Education and Rehabilitation Counseling.
 
”HDI promotes the inclusion, independence and contributions of people with disabilities across the lifespan," said Vice President for Research Lisa A. Cassis. "As one of 67 UCEDD programs across the nation, this mission is accomplished through research, education, information sharing, leadership and advocacy — across the Commonwealth and the nation. With 45 projects and over 200 staff, Dr. Sheppard-Jones’ background and experience building interdisciplinary collaboration will ensure HDI is part of the research agenda that improves life outcomes for all Kentuckians and particularly addresses disparities for those with disabilities.”
 
“I’m extremely honored to be HDI’s executive director," Sheppard-Jones said."We have huge challenges ahead of us, but I cannot imagine a better team of dedicated and innovative professionals, self-advocates and families with whom to share this journey. Together, we will forge ahead to promote a society that is inclusive for all, and help to erase health disparities for Kentuckians with disabilities. The University of Kentucky is an environment that will enable us to conduct state of the art translational research, provide training to interdisciplinary students who will be the leaders of tomorrow, and collaborate with communities to demonstrate service models that result in meaningful life outcomes.”

Lannett Company, Summit Biosciences Receives FDA Approval for Sumatriptan


LEXINGTON, Ky. (Feb. 22, 2016)  Lannett Company, Inc. announced today that it has received approval from the U.S. Food and Drug Administration (FDA) of its Abbreviated New Drug Application (ANDA) for Sumatriptan Nasal Spray USP, 5 mg/spray and 20 mg/spray, the therapeutic equivalent to the reference listed drug Imitrex® Nasal Spray, of GlaxoSmithKline. According to IMS, total U.S. sales in 2015 of Sumatriptan Nasal Spray USP, 5 mg/spray and 20 mg/spray at Average Wholesale Price (AWP) were approximately $62 million. 
 

"We believe our Sumatriptan Nasal Spray USP, 5 mg/spray and 20 mg/spray will be a first-to-market generic product," said Arthur Bedrosian, chief executive officer of Lannett. "Producing nasal delivery medications requires unique expertise and facilities that few possess. Our Sumatriptan Nasal Spray product was developed by Summit Biosciences Inc. and will be manufactured at its state-of-the-art facility located on the University of Kentucky's Coldstream Research Campus. We expect to commence marketing the product in the next several months."

About Lannett Company, Inc.:
Lannett Company, founded in 1942, develops, manufactures, packages, markets and distributes generic pharmaceutical products for a wide range of medical indications. For more information, visit the company's website at www.lannett.com.

About Summit Biosciences Inc.:
Summit Biosciences, founded in 2009, is a specialty pharmaceutical company focused on developing and commercializing generic and innovative nasal drug products. For more information, visit the company's website at www.summitbiosciences.com.

Craig Carter Named President of American Veterinary Epidemiology Society


Craig Carter

LEXINGTON, Ky. (Feb. 11, 2016) — Craig N. Carter, director and professor of epidemiology at the University of Kentucky Veterinary Diagnostic Laboratory (UKVDL), recently took the helm of the American Veterinary Epidemiology Society (AVES) as president for a five-year term. 
 
AVES was founded by James H. Steele in 1964 to recognize global leaders in infectious disease epidemiology and public health and to foster research to combat infectious diseases in both animals and humans. The society has recognized more than 70 world-renowned scientists through awarding the K.F. Meyer/James H. Steele Gold Headed Cane Award, which Carter received in 2011, primarily for his work on zoonotic diseases.
 
“I consider it such a great honor and privilege to serve as the president of the American Veterinary Epidemiology Society for the next five years," said Carter. "Since leaving my ambulatory practice in Texas, I have worked as an epidemiologist in service, research and teaching roles in the university, military and international consulting environments for over thirty years. Dr. Jim Steele — founder of the AVES and the CDC division of epidemiology — was my graduate professor, mentor and dear friend for many years until his death at 100 years young in 2013."
 
Carter was recruited from Texas A&M University to the UK College of Agriculture, Food, and Environment in 2005 to build an epidemiology program to provide for the early detection of animal disease outbreaks such as Mare Reproductive Loss Syndrome. In 2007, he was appointed to his current position at UKVDL where he oversees lab operations, conducts research and works with his graduate students.
 
One of Carter’s goals for the AVES is to attract more bright students into careers in epidemiology. Sponsored by Hartz Mountain Corporation, the AVES hosts its annual meeting each year as part of the American Veterinary Medical Association (AVMA) meeting.  The 2016 meeting will be held in July, in San Antonio, Texas. A celebration of the 100th anniversary of the U.S. Army Veterinary Corps will also be held at Fort Sam Houston in San Antonio in conjunction with the AVMA meeting. Carter’s military career spanned from 1967-2008, retiring as a full colonel in the U.S. Army Reserve Veterinary Corps. 
 
Carter said he has thoroughly enjoyed his many years as a faculty member at UK.
 
"Now nearing the end of my career, I delight in this opportunity to give something back to the AVES and to a scientific discipline that has been so good to me and the world.”

Piramal Pharma Solutions to invest $10M, add 40 jobs at Coldstream Laboratories


LEXINGTON, Ky. (Feb. 3, 2016) — Coldstream Laboratories, a pharmaceutical manufacturer now owned by Piramal Pharma Solutions, is planning a $10 million expansion that will add 40 jobs at their Coldstream Research Campus location in Lexington, KY.
 
Piramal Pharma Solutions plans to invest up to $10 million to expand operations at Lexington’s Coldstream Laboratories Inc., creating 40 new jobs, Gov. Matt Bevin and Lexington Mayor Jim Gray announced today. The India-owned company last year purchased Coldstream Labs, which develops and manufactures injectable pharmaceuticals.
 
“Growth in private-sector employment—particularly high-paying, skilled jobs like these—moves Kentucky forward on the national and global level,” Bevin said. “On behalf of all Kentuckians, I congratulate and thank Piramal Pharma Solutions and Coldstream for this investment to further strengthen Kentucky’s pharmaceutical industry. We are excited by this opportunity to become an increasingly important part of Piramal’s global footprint and look forward to many years of partnership with them.”
 
Coldstream Labs started in 1991 as the Center for Pharmaceutical Science & Technology, a unit of the University of Kentucky College of Pharmacy. It completed more than 200 development projects that led to clinical trials. In 2007, the college spun off Coldstream Labs as a private company owned by the University of Kentucky Research Foundation.
 
As a separate independent business, Coldstream Labs gained the ability and technical expertise to manufacture liquid and freeze-dried injectable products. In January 2015, the Research Foundation sold Coldstream Labs to Piramal Pharma Solutions., a global leader in pharmaceutical contract services, and the flagship division of the Mumbai, India-based Piramal Group. Under Piramal, Coldstream Labs can access the financial resources needed to expand its facilities and meet its customers’ needs.
 
“The excellence of the University of Kentucky Pharmacy program and the brainpower it has brought to Lexington are creating good jobs for our citizens,” Gray said. “These are homegrown jobs that build on our growing reputation in the pharmaceutical industry.”
 
The Piramal Group operates in more than 30 countries with a presence in 100-plus markets around the world. Piramal Pharma Solutions, a division of Piramal’s flagship company Piramal Enterprises Limited, also maintains U.S. operations in Bethlehem, Pa. in addition to Coldstream Labs.
 
To encourage the investment and job growth in Lexington, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $800,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
 
Additionally, KEDFA gave Coldstream Labs preliminary approval for up to $140,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
 
Coldstream Labs can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies are eligible to receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. Last year, the Kentucky Skills Network trained more than 84,000 employees from more than 5,600 Kentucky companies.

Proposed Water Tank on Legacy Trail to Include Restrooms, Tees, Bike Racks


LEXINGTON, Ky. (Dec. 17, 2015) — The city of Lexington plans to spend $1.75 million to build restrooms and add trees and other amenities around a 70-foot-tall water storage tank to be built on the popular Legacy Trail on the Coldstream Research Campus by the end of December 2016.

 

The Fayette Urban-County Council recently approved the revamped plans for the new rest area. The tank — to be five stories tall and 200 feet in diameter — must be operational by the end of 2016.

 

As part of a $590 million overhaul of the city’s sanitary-sewer and storm-sewer systems, the city must install a “wet weather” storage tank near the Cane Run pump station. That pump station is at the back of the Coldstream Research Campus, off Newtown Pike on the Legacy Trail. The tanks are used to store water during heavy rain, helping to decrease the number of storm water overflows.

 

Charlie Martin, the city’s director of water quality, appeared before the council in September with a preliminary design. The designs unveiled Tuesday were altered slightly but contain the same design elements — a rest room, shade trees, bike racks, a water fountain and other amenities. The Legacy Trail currently has little shade and no restrooms.

 

Martin has met with stakeholders — including tenants of the Coldstream Research Campus, the Blue Grass Community Foundation, the Lexington Art League and others — for nearly a year to discuss ideas to make the are around the tank a rest area and not an eyesore.

November 2015 StreamLines Newsletter


The November 2015 StreamLines Newsletter can be found online here

In this issue:

 

Learn more about quick lunch options on the Coldstream Research Campus

  • Selma’s Catering
  • Paddock Grille at Embassy Suites
  • Food Trucks

UK's Coldstream Research Campus is Thriving


Over the years, skeptics have at times been publicly critical of what they perceived as a lack of activity on the University of Kentucky's Coldstream Research Campus. These days, there is plenty going on at Coldstream.
 
Carl Nathe of UK Public Relations and Marketing recently sat down with the executive director of Coldstream, George Ward, for a conversation on 'UK at the Half,' a feature about people and programs at the university, which airs at halftime of every live radio broadcast of Wildcat football and basketball on the UK Sports Network.
                                                   
To listen to the show, visit: ukath-2015-16-7_mixdown.mp3

Coldstream Research Campus Hosted Earth Day Cleanup


LEXINGTON, Ky. (May 6, 2015)  In support of Earth Day and the national Keep America Beautiful campaign, the University of Kentucky Coldstream Research Campus and the Lexington-Fayette Urban County Government's Parks and Recreation Department held a cleanup of the banks of the Cane Run Creek south of Citation Boulevard, near the bridge in front of Eastern State Hospital.

 

Due to recent rains, high water had deposited a great deal of litter along the banks of the creek.  A successful clean up effort led by Coldstream Research Campus staff members Jim Conner and Steve Johns took place on April 22, 2015. Organizers worked with friends from HP, Tempur Sealy and other Coldstream volunteers to pick up and sort trash and recyclables that was later removed by LFUCG.

 


 

UK sells interest in Coldstream Laboratories to major pharmaceutical company


Update: this transaction has been completed.

Piramal would locate major pharmaceutical operations in Lexington at Coldstream Research Campus


 
LEXINGTON, KY. (Jan. 15, 2015) -- The University of Kentucky is considering a $30.65 million offer for Coldstream Laboratories Inc. (CLI) and its high-tech facility located at Coldstream Research Campus.
 
A decision about whether to sell CLI will be made Thursday during meetings of the UK Research Foundation and the executive committee of the university's Board of Trustees.
On the table is an offer from Piramal Enterprises Limited, one of the 50 largest companies in India, with annual revenues exceeding $750 million and expertise in contract manufacturing of pharmaceuticals. 
 
"This development is an exciting one for UK, Coldstream Research Campus and our community as we continue efforts to commercialize the technology and intellectual property developed by the university at the research park," said Lisa Cassis, UK's interim vice president for research.
 
Incorporated in 2007, CLI is a specialty pharmaceutical contract manufacturer with an emphasis on clinical trial to commercial scale sterile manufacturing of liquid and lyophilized parenterals and injectables.
 
UK's Research Foundation, as the largest shareholder in CLI, was to consider a $25 million offer from Piramal Enterprises Limited  for the company's stock. The UK Board's Executive Committee, acting on behalf of the university's Board of Trustees, was to consider a $5.65 million offer for the CLI facility on the research park campus.
 
CLI has had considerable success in recent years including:
--A five-year National Cancer Institute contract in 2013, 
--Successful completion of Food and Drug Administration pre-approval inspections in 2014 for the production of pharmaceuticals. 
 
However, taking the next step in growing and commercializing its operations will require more capital infusion on a consistent basis going forward. As a result, university officials said, private ownership and investment offers the greatest potential for CLI's long-term future.
 
"UK realizes that while CLI has been increasingly successful in commercializing research and products developed at this facility, its long-term success will be bolstered by further investment, management and marketing expertise, and expanded product lines and capacity that can best be provided by a commercial owner," said Eric N. Monday, UK's executive vice president for finance and administration. 
 
To that end, Piramal would locate its North American Pharma Solutions Formulations headquarters in Lexington at the Coldstream Research Campus while also exploring the potential for partnerships with the UK College of Pharmacy, which is currently fifth-ranked nationally.
 
CLI currently has 97 employees with an average annual salary of $58,000. Piramal has expressed an interest in negotiating with current management to continue operating the business and officials have stated that they hope to expand the employee base and presence on the Coldstream campus.
 
"That interest on the part of a major player in this industry speaks well of our stewardship of this company as well as the management and employees who have developed CLI to this point," Monday said. "The potential for this company -- and commercialized research created by the College of Pharmacy -- is tremendous."
 

One-On-One: Tempur Sealy CEO Mark Sarvary


 

Mark Sarvary is chief executive officer and president of Tempur Sealy International Inc. (formerly Tempur-Pedic International Inc.) and a member of the company’s board of directors. Prior to joining the company in 2008, he was an industrial partner with CVC Capital Partners, a global private equity firm; served as president of Campbell Soup Co.’s North America division from 2004 to 2007; and was president of Campbell’s Pepperidge Farm division from 2002 to 2004.

 

From 1999 to 2002, Sarvary was CEO of J. Crew Group Inc. and worked at Nestle from 1993 to 1999, serving as president of Stouffer’s frozen food division. Early in his career, Sarvary worked as a strategy consultant with Bain & Co. and held sales and marketing roles with IBM in Europe. Sarvary received a degree in physics from Kent University in the United Kingdom and holds an MBA from INSEAD Business School in France.

 

Ed Lane: In March 2013, Tempur-Pedic acquired Sealy and the deal created a $2.7 billion global bedding powerhouse. How is the new firm – Tempur Sealy International, which operates in 80 countries – performing in 2014 sales-wise and profit-wise?
 
Mark Sarvary: The company is performing well. It’s important to put in context that Tempur-Pedic is a global company and has been since its inception. Tempur-Pedic is focused on a special area of the bedding industry, and its products are made with Tempur material. Its acquisition of Sealy in March of last year was a really big strategic evolution. The company went from being focused on one technology to being focused on all types of bedding being offered at a broad range of prices. And at the same time, Sealy went from being essentially a North American company – it had overseas performance, but the majority of its business was in North America – to being a global company. It was a big change for both sides of the merger. A year and a half later, I would say the merger has gone well. The financial performance of the business has excelled, given that an enormous amount of change had to go through both sets of organizations.
 
From a sales point of view, the companies are both growing. Tempur last quarter had an all-time-record quarter in the United States. Sealy came within an inch of a record quarter of all time. And overseas, business continued to grow very nicely, and I imagine that was a record there, too. So it’s been very good from a sales growth point of view. And from a profit point of view, too, the company is growing its profitability and we anticipate that continuing to be the case.  Management believes there are opportunities to improve profit margins beyond where they are today, but overall we’re very excited about the merger.
 
EL: 2013 annual sales were $2.46 billion. Did annual sales include all revenues for Sealy and Tempur-Pedic for that calendar year?
 
MS: The $2.46 billion annual sales reported for 2013 included Sealy from March 18 to the end of the calendar year; it was a partial year. Had Sealy been owned for the full year, annual sales would have been approximately $2.77 billion.
 
EL: How are Tempur Sealy’s sales generated? Does Tempur Sealy have company-operated stores, sell direct, have dealers, or all of the foregoing?
 
MS: Tempur Sealy has all of those sales initiatives, but the vast majority of its sales are done through wholesale dealers. We sell to local and national dealers, who may serve a region or a whole country. Tempur Sealy has a lot of dealers across the country. In addition, the company sells direct, has its own website, sends catalogs to millions of people every year, and has customers who buy here by phone or online. Tempur Sealy also has three stores around the country where it sells direct to consumers. Those stores are brand showcase stores; they show off the Tempur Sealy product lines. The nearest one is in Cincinnati.
 
The rest of the world, however, is a little bit different. In general, what I just said is true in the United States and in the rest of the world, but in some countries it’s a bit different. For example, in China the bulk of our sales are done direct through our own stores. Tempur Sealy has over 50 stores overseas, and the majority of those stores are in China and Southeast Asia.
 
EL: Does the rate of new home construction impact Tempur Sealy sales?
 
MS: The demographic that has the greatest single correlation to sales is population. New homes have some slight correlation, but over time the factors that drive our sales are population growth and GDP growth. Those are the two really big drivers. We have also found our sales are more correlated with the rate of change of unemployment than with home construction. Essentially, if unemployment is declining, that’s a good thing for bedding. If it’s getting worse, that’s a bad thing.
 
EL: Creating a much larger business through merger is a complex management initiative that can require several years to complete. When will the benefits of the merger – an estimated $40 million cost reduction for Tempur Sealy due to enhanced operational efficiencies – be fully recognized?
 
MS: The merger has gone well. Tempur Sealy has exceeded those initial expectations. This year we’ll have $40 million in cost reductions due to improved operational efficiencies. We thought that the reorganization plan could take up to three years, but our managers achieved our initial goal in 18 months. Some of the areas of savings are more lucrative than we forecasted at the time of the Sealy acquisition. Now we’ve reset the bar to $70 million in operational savings, and we’re confident of that target. But I would also say that these savings are not a function of higher sales – they’re a function of our managers finding that there are great opportunities to improve operational efficiencies.
 
EL: Will there be some continuing costs of the Sealy acquisition in future years?
 
MS: There will be some costs still, but they are going to be relatively modest.
 
EL: How difficult has it been to merge the product lines of both companies?
 
MS: The products are different, but they are sold in the same stores and the people who are buying one are also considering the others. So the consumers and the retailers are the same. The method of manufacture is quite different, and therefore it’s important that we retain the best of both worlds in terms of how we manufacture our products. Both sides, both the Tempur and the Sealy side, can teach the other one about how to make their products better by sharing best practices.
 
EL: If Sealy was in a retail location and Tempur was not there, the merger allowed the firm to expand bedding lines in that store, and vice versa. Has cobranding helped in improving product distribution?
 
MS: Absolutely. It helps Tempur Sealy gain broader distribution. In the past, a Tempur representative called on a store to help make sure the people in the store were trained and knowledgeable about our product line, and a person from Sealy was calling on the store in the same way. With our combined personnel, now we can assign one person to a store to cover both Tempur and Sealy, but that representative only has to cover half as many stores and therefore can develop much better relationships, make more frequent calls and provide better service levels. So, not only can Tempur Sealy achieve broader distribution of its product lines, it also can provide better coverage of that broader distribution.
 
EL: After the merger, Tempur Sealy is now operating in over 100 countries. How well did the existing markets of both firms meld together?
 
MS: In the majority of the countries, Tempur has a bigger marketing position than does Sealy, so essentially the backbone of Tempur is being used to distribute Sealy products. There are a couple of countries where Sealy had superior distribution to Tempur: Argentina and Uruguay. And then there is a large chunk of Asia where Tempur has penetration and Sealy had a joint venture; those national markets will work in parallel until 2020, when Tempur will acquire the rest of that joint venture.
 
EL: How complementary are the demographics of Tempur-Pedic and Sealy brands?
 
MS: The demographics are different, and it’s very important that they’re different. One of the most important things about the Sealy acquisition was the fact that Tempur and Sealy have complementary brands. Sealy has more than one brand: There is Stearns and Foster, Sealy Posturepedic, Optimum, and Sealy. So, Tempur Sealy now has five brands. And if you look at them in terms of demographics, essentially Tempur-Pedic is the most expensive, then Stearns and Foster, Sealy Posturepedic, Optimum and Sealy. Each brand is at different price points and appeals to a different demographic. Each brand feels different, so each brand appeals to different consumer design preference. So, very importantly, they appeal to different consumers. However, all of those consumers go to the same stores. For instance, all of those consumers may go to Sleep Outfitters. To a retailer, we can say, “We’ve got every product line you need. Every consumer that comes in, we’ve got a product that meets their need.”
 
EL: Are there raw materials in your products that are subject to cost volatility?
 
MS: The primary ingredients, interestingly, of both Tempur and Sealy products is foam or the raw materials to make foam, which is a derivative of oil. And so to some extent the price of foam will move with oil, which obviously is a financially volatile commodity. Unfortunately, it doesn’t always move like oil. It moves as volatilely as oil, but not in lockstep with oil. The other major ingredient is steel, which has volatility as well.
 
EL: How did Tempur-Pedic develop its initial product and go into business?
 
MS: What makes Tempur Sealy such a great Kentucky story is that Bobby Trussell, a company founder, is a proud Kentuckian. He wasn’t born here, but he’s a longtime Kentuckian. Bobby was and is in the (Thoroughbred) horse business, but he’s also an entrepreneur. A friend of Bobby’s in Sweden discovered a material derived from material made by NASA. NASA had exclusive rights to it. It had remarkable characteristics. And between (Trussell and his friend), over a period of years they worked out how to make it into pillows and then mattresses, which they have sold all around the world.
 
Bobby was based in Kentucky, and so he started off the U.S. (portion of the) business in Lexington. As the company grew, the U.S. grew to be the biggest component and the two companies merged and brought in outside investors and then took the company public and have grown it very rapidly. Tempur is a 20-year-old company that was an offshoot of this NASA-developed foam but was very much driven by, for all its globalness, right here in Lexington, Ky. Bobby still serves on our board today.
 
EL: How many employees does Tempur Sealy currently have both globally and here in Kentucky?
 
MS: We have about 6,500 all together and 425 of those are in Kentucky.
 
EL: Tempur Sealy’s global headquarters are now located in Lexington, Ky. The grand opening of your 128,000-s.f. building was in February 2013. What are a few of the reasons Tempur Sealy elected to remain in Lexington?
 
MS: Lexington is a great place to live, and it’s a great place to raise a family, and it has a great pool of talent to recruit locally. But on top of that, because it’s such a great place to live and to raise a family, it’s a very attractive place for people all around the country to relocate. Tempur Sealy has had people from all over the country move here. Lexington has a good pool of talent already here and the ability to attract talent here from around the country.
 
EL: Kentucky is geographically located in the middle of the United States. Was that also a factor?
 
MS: Our firm has two plants in the United States on the Tempur side. One is in Virginia and one is in New Mexico. And we have about 16 plants around the country on the Sealy side. And obviously a lot of our workforce is in those plants. Our salespeople are all over the country. The bulk of our headquarters and corporate people are here in Lexington or in Trinity, N.C., which is the former Sealy headquarters. But, yes, a lot of people based here do travel, and being geographically central is useful.
 
EL: How does the cost of doing day-to-day business in Kentucky compare to elsewhere in the country?
 
MS: When Tempur-Pedic built its (current) headquarters facility, management evaluated other alternative cities in which we could locate and found that our occupancy costs in Lexington were competitive.
 
EL: The firm recently moved into its new corporate headquarters, located at the University of Kentucky Coldstream Research Park. How did the Kentucky Economic Development Cabinet assist your firm in acquiring these new offices and help motivate your firm to stay in Kentucky?
 
MS: Our relationship with the cabinet was constructive from the beginning. Management really appreciated that relationship and it helped Tempur-Pedic make the decision to lock down our roots here. And from the local government’s point of view, it’s worked out gangbusters. Tempur had projected a few years back how many people would work in this building and we’re already exceeding it. Tempur said that it would maintain jobs here and grow, and we are ahead of that growth plan.
 
EL: Are all of your products manufactured in the United States, or are some manufactured overseas? Do you expect more of your products may be U.S.-made in the future?
 
MS: We have manufacturing facilities on the Sealy side in Mexico and Argentina. The Canadian, Mexican and Argentinian facilities all supply those countries – they don’t come through here – but all finished (Sealy brands) goods sold in the United States are made in the United States. In the rest of the world, however, almost all of the product sold by Tempur – which, remember, is the bulk of our overseas sales – is made out of our plant in Denmark.
 
EL: You’ve been in executive leadership positions at such large companies as Campbell’s Soup Co., J. Crew Group and Nestlé. What made you decide to come to Tempur-Pedic in 2008?
 
MS: The initial contact was with a headhunter, and then I met with the board and got to know several members of the board. As I learned more, what appealed to me were three things. First, it was a brand – a very strong brand, and in almost all of my career I have been very focused on building brands. Secondly, it was global. Again, that’s relatively rare; although there are global products on this scale, there aren’t many. It’s a relatively small global company. And third, it had such enormous opportunities for growth.
 
EL: How important to Tempur Sealy’s success is its new headquarters office, which involved a $17 million investment?
 
MS: It was a big deal to build this building, and it’s an important commitment to the city and to the University of Kentucky Coldstream campus. It’s been great; it was built on time and on budget. Its main design objective was that when people walk into the main building, the people who work here think, “This is a nice place to work.” It’s not designed for customers or anybody else; it’s designed for the people who work here. And as an additional benefit, it’s a great recruiting aid because when people walk in they say, not only is this a beautiful area to live, this would be a nice place to work within that area.
 
 

 

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