FUJIFILM Holdings America Corp. announced its FUJIFILM Manufacturing U.S.A., Inc. subsidiary has entered into an agreement to sell its Greenwood, S.C., site to an affiliate of Phoenix Investors, a national commercial real estate firm based in Milwaukee, Wisc. with large-scale industrial real estate holdings across the United States.
Fujifilm will maintain a workforce of over 300 employees at the site, and lease back over 1.1 million square feet across 5 facilities for administrative, manufacturing, warehouse and distribution operations. The announcement comes as welcome to news for industry watchers concerned after Fujifilm announced last year that it will transition many of its manufacturing functions at its Greenwood campus to other Fujifilm sites in Europe and Asia. But, as part of this same initiative, Fujifilm made the commitment to maintain a strong presence in Greenwood to continue manufacturing for its Personalized Photo Products Group, Warehousing and Distribution, and administrative support functions.
“Fujifilm arrived in Greenwood over 30 years ago, and we look forward to continuing as a major employer and a good neighbor in the community,” said Jun Higuchi, president, FUJIFILM Holdings America Corporation, president and CEO, FUJIFILM North America Corporation, Chairman, FUJIFILM Healthcare Americas Corporation. “We look forward to working with Phoenix Investors to create a productive and enjoyable working environment for our valued employees.”
In addition, Fujifilm decided to maintain and increase its manufacturing assembly of its QuickSnap one-time-use-cameras, due to the rising U.S. demand driven by Gen Z consumers, the company said.
“We are pleased to continue our manufacturing assembly operations of QuickSnap one-time-use-cameras and with the increased demand for color film, we’ve recently added a second shift with 15 additional positions,” said Bing Liem, division president, Imaging Division, FUJIFILM North American Corporation. “We will also continue our Personalized Photo Products operations here, where we provide fulfillment of photo prints, and photo gifts for customers across the country. We have built strong relationships with the community to fill nearly one thousand seasonal positions annually during our busy holiday season and are proud to be one of the largest employers in Greenwood.”
Phoenix Investors’ core business is the revitalization of former manufacturing facilities throughout the United States, with expertise in renovating large commercial campuses. The deal is expected to close by early October 2022 subject to satisfaction of terms and conditions. Terms of the agreement were not disclosed.
“We were pleased to reach a definitive agreement with Fujifilm to acquire its Greenwood campus,” said Frank Crivello, founder and chairman, Phoenix Investors. “Fujifilm is a world-class company; these buildings were built to its high standards and impeccably maintained.”