SCOTTSDALE, Ariz. - Carlisle Companies Incorporated (NYSE:CSL (OTC:CSLLY)) has announced a substantial investment exceeding $45 million to develop a new phase of its Research & Innovation Center in Carlisle, Pennsylvania. This move aligns with the company's Vision 2030 strategy, aiming for above-market growth and enhanced value.
The expansion will add over 50,000 square feet to the existing facility, providing additional laboratories, workspaces, and equipment stations. It also includes office and collaboration spaces to support increased innovation staffing.
This development is expected to more than double the current research and innovation space in Carlisle, PA, and will focus on accelerating new product development and commercialization. The goal is to boost annual revenue from new products, adhering to the objectives set out in Carlisle's Vision 2030.
Chris Koch, the company's Chair, President, and CEO, expressed that the expansion is a continuation of their commitment to becoming a pure-play building products company, as announced last December.
By increasing R&D spending, Carlisle aims to unlock further above-market growth and enhance returns across its product suite. The extended facility will enable faster development of new programs, additional testing and analysis capabilities, and quicker introduction of new products to the market.
Carlisle Companies Incorporated is recognized as a leading supplier of building envelope products and solutions, promoting more energy-efficient buildings. With brands like Carlisle Construction Materials (CCM) and Carlisle Weatherproofing Technologies (CWT), the company is committed to delivering innovative and labor-efficient products and solutions. As part of its commitment to sustainability, Carlisle has pledged to achieve net-zero greenhouse gas emissions by 2050.
The expansion of the Research & Innovation Center is part of Carlisle's broader strategy to drive growth and shareholder value through a balanced capital deployment approach, which includes business investments, strategic acquisitions, share repurchases, and ongoing dividend increases. This development is based on a press release statement from Carlisle Companies Incorporated.
InvestingPro Insights
As Carlisle Companies Incorporated (NYSE:CSL) embarks on its ambitious expansion of the Research & Innovation Center, aligning with their Vision 2030, the company's financial health and market performance provide a context for understanding the potential impact of this investment. According to InvestingPro data, Carlisle's market capitalization stands at a robust $18.3 billion, reflecting investor confidence in the company's strategic direction.
With a forward-looking P/E ratio of 22.91 as of Q1 2024, Carlisle trades at a premium, potentially due to its consistent history of dividend growth, having increased its dividend for 31 consecutive years. This commitment to shareholder returns is further evidenced by a dividend growth rate of 13.33% over the last twelve months as of Q1 2024, reinforcing the company's financial stability and appeal to income-focused investors. Moreover, the company has demonstrated a strong return over the last year, with a 1-year price total return of 81.57%, signaling robust market performance and investor optimism.
Two notable InvestingPro Tips for Carlisle include the company's perfect Piotroski Score of 9, indicating high financial health, and the aggressive share buyback strategy by management, which can signal confidence in the company's future prospects. These factors, combined with the company's innovative drive and commitment to sustainability, may continue to attract investors looking for growth and stability.
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