Caesarstone to Shutter U.S. Factory

RICHMOND HILL, Ga. — Caesarstone will close its quartz-surfaces plant here next month as it moves to outsource more of its worldwide production.

Yos Shiran, Caesarstone CEO, announced the mid-January closing in a statement released this morning.

“Our manufacturing network has been undergoing restructuring since earlier this year, with the focus on optimizing our global production footprint,” he said. “This transition will allow us to better serve our customers’ need, streamline our operations, and improve our overall competitiveness.

“This is part of the strategic plan we are implementing to focus on product innovation, investment in our brand, improve our go-to strategy and better position Caesarstone for long-term growth in the years to come.”

Caesarstone opened the quartz-surface production facility in late May 2015.

The Israeli surfacing company told Wall Street analysts last month that the company would have 50% of products sold to be produced by other companies.

Caesarstone estimates that it will save approximately $20 million annually “by optimizing its manufacturing footprint.”

The company will declare a one-time non-cash impairment of $45 million to $55 million during the fourth quarter of 2023, with cash costs of $3 million to $5 million next year.

The company also noted it would be “exploring opportunities to monetize the asset in the future.”

Shiran also expressed his appreciation for plant workers and local officials during the operation of the plant.

“I would like to thank the Richmond-Hill Community, Bryan County, the Georgia Government and all our valued employees and business partners there for their work and support over the years,” he said.