Breaking: Kimberly-Clark Buys 560 Acres in Warren for Potential Project
YOUNGSTOWN, Ohio – The Western Reserve Port Authority late today approved the sale of 560 acres in the city of Warren to Kimberly-Clark Corp., the Dallas-based maker of personal care products and consumer tissues such as Kleenex and Viva paper towels.
Kimberly-Clark will pay the port authority $9,935,300 for the land, just over half of the former BDM Warren Steel property on Pine Avenue. The WRPA Board of Directors unanimously approved the land sale at an emergency meeting that convened at 5:30 p.m. It was conducted in person and via Zoom.
A company executive attended remotely and thanked the port authority and local officials for their cooperation in what he described as a long process. He directed reporters to this company statement:
“Kimberly-Clark is pleased to have reached a deal with the Western Reserve Port Authority to purchase the 560 acres of land at the former BDM Warren Steel property. We are finalizing our development and project plans and we are working towards an approval by our Board of Directors sometime in 2024. We will communicate further updates with our teams and the Western Reserve Port Authority and our local and state government partners at the appropriate time,” the company said.
According to the Kimberly-Clark website, “One-fourth of the world population uses one of our products every day.” Its brands are sold in more than 175 companies.
The company, founded 151 years ago, is listed on the New York Stock Exchange and employs 45,000. It reported $20.2 billion in sales during 2022.
This is a developing story that will be updated Friday morning.
Copyright 2024 The Business Journal, Youngstown, Ohio.