Business news

The vacant building that has stood just north of LaFayette on U.S 27 for almost a decade known to locals as Imperial Cup has a brand new owner.

Euclid Chemical Co., known locally as PSI Fibers, of LaFayette has purchased the facility from the Rex Allen family. The building will become the manufacturer's new home and will hum with the sounds of manufacturing synthetic fibers used in various concrete applications.

“We are having to expand our operation due to a growing market for our product line,” said director of operations Grant Beasley.

Euclid Chemical Co. is owned by RPM International of Ohio.

“This is something we have hoped for for near a decade,” said Walker County commissioner Bebe Heiskell. “Guess it’s true that good things come to those who wait.”

The company now employees about 30 laborers but looks to increase that number significantly this summer once it settles into the building.

“This is certainly a huge physiological boost for LaFayette because the building has sat empty for so long,” said Larry Brooks, executive director of the Walker County Development Authority. “We look forward to working with Euclid as it ramps up this new expansion.”

The Imperial Cup Building was built over three decades ago and is most remembered for serving as the home of Imperial Bondware before the company was sold by the Allen family.

Since that time, the building as served as warehousing for various companies like the Bluebird Bus Corp. that closed its LaFayette manufacturing operation in 2010.

Euclid Chemical plans to announce publicly when it will begin its new hiring but explains that it will likely not begin until later this summer, as the new machinery won't be fitted within the building until then.