LORD Opens New Building Named for Former CEO

Cary, NC- LORD Corporation unveiled its new building, the Richard L. McNeel Business Center, at a dedication ceremony honoring President and CEO Rick McNeel on December 18. The building dedication precedes McNeel’s retirement, effective December 31, 2012, and is purposed to support the growing enterprise at LORD world headquarters in Cary. Ed Auslander, incoming president and CEO, effective January 1, 2013, led the ceremony as employees, LORD leadership, the LORD Board of Directors, elected officials, community leaders, and family and friends of McNeel’s gathered to celebrate his achievements and the expansion of LORD headquarters.

The 50,000 square foot building can accommodate 165 future employees. Builders Clancy and Theys expect the building to achieve Silver LEED certification. Construction included the use of  LED lighting, in addition to lots of natural light. The exterior bricks are made from 80 percent recycled material.

“I am extremely honored and privileged to have spent the past 10 years with the amazing people who make up LORD Corporation,” said McNeel. “Since my arrival in 2002, we have achieved many new milestones thanks to the exceptional talent of our employees and management team. This expansion of the Cary campus will position us for continued growth over the next eight to 10 years. I am excited to see what the future holds for LORD, and I am extremely grateful for this honor.”

Growth Even In Tough Times

Since McNeel’s arrival in 2002, LORD headquarters has grown from 220 employees to more than 340 employees, with further growth expected by the end of next year. LORD has expanded globally, and continues to commercialize innovative solutions to increase the value of its customers’ products.

“Rick’s skillful guidance is something I hope to emulate in my role as president and CEO,” said Auslander. “He has led us through several acquisitions, and he has introduced processes aimed at improving our manufacturing and business practices. These actions have helped double our revenues over the last decade. Everyone at LORD is indebted to Rick for his tremendous leadership, for guiding us to new levels of success, and for enabling each of us to perform our best.”

 

LORD Corp’s global headquarters are located in Mac Gregor Office Park off of US 64. The privately held company designs and manufactures designs, manufactures and markets mechanical devices and electromechanical systems to control vibration, motion and noise; formulates, produces and sells general purpose and specialty adhesives, coatings and electronic materials; and develops products and systems utilizing magnetically responsive technologies.

Following his retirement, McNeel will remain as chairman of the LORD Board of Directors, where he will continue to provide leadership and support to LORD regarding its strategic plan and company direction.