Saulsbury Industries closed on the purchase of the property previously owned by SandRidge Energy, located on Interstate 20 between Odessa and Midland, Texas.
Odessa, Texas (PRWEB) October 14, 2015
October 9, 2015 – Friday, Saulsbury closed on the purchase of the property previously owned by SandRidge Energy, located on Interstate 20 between Odessa and Midland, Texas. The facility consists of 116 acres with 6 buildings totaling over 78,000 sq. ft. The buildings include a 36,000 sq. ft office building, along with maintenance, warehouse, fabrication and other ancillary buildings. The building was purchased by the Saulsbury Family and will be utilized for Saulsbury Industries business.
Saulsbury had plans to expand its current Odessa office location, adding 40,000 square feet, as well as building a new facility on 200 acres it owns near the headquarters on the other side of Interstate 20.
“The SandRidge facility takes the place of both needs and will save a couple of years of construction in addition to significant financial savings. This moves gives Saulsbury the immediate ability to continue our growth strategy,” said Bubba Saulsbury, Sr. Vice President Business Development.
As with most companies, strategy during an economic downturn changes; this is true for Saulsbury as well. Plans to build a new free-standing facility and addition to its current office space have been replaced by the purchase of the SandRidge building.
Over the last 20 years, Saulsbury has averaged over 20% year-over-year growth creating the necessity to expand its physical presence as well.
“Growth means much more to Saulsbury than revenue, it has to do with stability, sustainability, opportunities for employee advancement, and it gives us the ability to give more back to the Permian Basin,” said Rick Graves, Chief Executive Officer.
Saulsbury’s strategic plan has included diversification for a number of years to be less dependent on Oil & Gas prices.
Saulsbury noted, “While we are making significant progress we would have preferred for oil prices to stay up for another year or two. However, being nimble allows us to adapt quickly to changes in the market.”
Saulsbury is on track to be flat, or just above last year, which was the largest year of revenue in the company’s 47 year history. “We attribute our success to our employees, growing with our customers, diversification, financial stability, our culture and record of safety,” noted Saulsbury.
Saulsbury Industries is a full-service Engineering, Procurement and Construction (EPC) contractor that provides engineering, general construction, and electrical and maintenance services to heavy industrial markets nationwide. Headquartered in Odessa, Texas, Saulsbury is a family owned debt-free company with annual revenue of more than $700 million and has recently employed as many as 3600 employees.
2951 E Interstate 20
For the original version on PRWeb visit: http://www.prweb.com/releases/2015/10/prweb13014434.htm