Page 4 - Graypvine October 2019

Updates continued from page 2
customer renew a partnership says clearly that our past
performance earned their trust and confidence. And thanks to the
efforts of our teams: Toyota Boshoku, Goodwill Industries, Camping
Southeast Office World, Fritz Winter, and Enova Premier have all rewarded us with
with Patrick McCowan additional projects this year.
Vice President, Thanks to everyone for their contributions to the many successes
Southeast Office this year. Let’s bring the same enthusiasm, purpose, and values to
build a great year in 2020!
As the Southeast Office enters into the final
quarter of FY2019, it’s time to take the opportunity to reflect on
successes of the past and what the next quarter has in store. Distribution Market
We are completing Gray’s first project for Georgia Pacific with
great success in Palatka, FL. This team has done an outstanding with Steve Summers
job working within an existing campus and setting us up for Executive Vice President
additional projects with this great customer.
Constructed for Amazon, Gray’s first multi-story fulfillment The distribution and supply chain market
center achieved substantial completion as planned. Hats off to the segment continues to be pressed to evolve.
Amazon BHM1 team for their hard work and dedication placed Challenges from logistics, labor shortages, global trade
into this project over the past 365 days! Hope remains that this agreements and warehouse control systems are but a few of
monumental effort does not go unnoticed as similar projects roll the demands our customers are facing today. Industry leaders
4 out in the near future for this remarkable customer. are working to transform yet again and embrace a new business
ABB, GP Osprey, Nippon Express and YKTA are well on their
model to remain competitive and efficient in the marketplace.
way carrying us into FY20. Here is an update on a few of the projects our team has been
Our team was blessed this summer by having the opportunity to
get to know six outstanding interns: Grace, Tim, Cole, Cameron, working on over the past months.
Isaac, and Madison. They have provided wonderful insight and In Fall 2018 we began construction on the bottling hall project
energy! We wish them the best as they return to school. at Buffalo Trace Distillery in Frankfort, Kentucky and recently
Moving forward, the Southeast Regional Team plans to completed construction. The project included the construction
capitalize on all opportunities from existing customers and those and renovation of a 100,000 s.f. multi-purpose, multi-story facility
we haven’t yet met. Our goal for FY20 is to be as strong as both consisting of four bottling lines, a day tank room, warehouse
THE University of Alabama and THE University of Auburn football space, offices and quality lab. The building has been turned over
teams coming into this new season! to the customer and they have been running partial production
since March and all bottling lines since June.
In February, Gray was tasked with decommissioning a
Ohio Valley distribution center for Target in Memphis, Tennessee. Our work on
with Steve Renshaw the 900,000 s.f. facility involved coordination of mechanical and
President electrical system removal, construction and safety management,
As we near the finish line for this business year schedule oversight and integration with the liquidator activities
and look at the goals we set , I can proudly and for equipment removal. The team recently completed this work in
thankfully say that we have a success story for 2019. August 2019.
Our dedication to planning for and maintaining a safe workplace In early 2019 we were awarded the Gap Ohio Fulfillment Center
by making safety focused decisions at each important moment, Expansion in Groveport, Ohio. It is our first project with Gap
enabled us to meet our goal of zero lost-time incidents thru August. since 2002. Our partnership with Gap started in 1995 and has
Our safety audits trend is positive and reinforces our efforts for a
safe and clean site. consisted of over $200 million in successful projects. The
Our goal to add five new customers was accomplished with 500,000 s.f. expansion started in Ohio on April 2 with a material
the addition of clients: LBX, Infiltrator, Godolphin, ITSUWA, and handling turnover by October 1 (182 days) and a planned
Crossroads IGA (Houchens Industries). substantial completion of November 14. Including Distribution
Repeat business is especially rewarding! To have a past and Retail, Gray has completed over 40 projects for all Gap, Inc.
companies.
This spring we were awarded our
Company Financials first project for Publix Super Markets.
The project is a multi-year campus
reported for Gray, Inc. & Subsidiaries build located on a 354-acre site in
Greensboro, NC. Construction will
consist of a 900,000 s.f. refrigerated
Target/Goal Current/Projection Potential
warehouse, return center fleet services,
Sales $1,465,000,000 $1,550,800,393 $1,632,675,365 dispatch and numerous security
Revenue $1,471,000,000 $1,642,863,906 $1,661,675,365 locations. Publix is the nation’s largest
ESOP and construction is slated to begin
Revenue Growth 4% 51% 52% in early 2020.
Backlog at Year-End $1,135,000,000 $1,006,953,888 $1,077,439,849