Machinery maker Gardner Denver Inc. on Wednesday said it will move its headquarters to the Philadelphia area to make the company easier for international customers to reach.
Gardner Denver did not specify where in the region it will be headquartered, or when the move might take place. A representative could not be immediately reached for further details.
The company's back office operations, including compliance, personnel, information technologies, accounting, treasury and transaction processing, will remain in Quincy, Ill. The Industrial Products Group headquarters and compressor and pump manufacturing operations, will also stay there, leaving a total of about 365 Gardner Denver employees in Quincy. The company has more than 6,000 workers on six continents.
The company said it decided that relocation to a major metropolitan area was necessary to improve access to global customers, which account for about two-thirds of its $1.8 billion annual revenue. The Philadelphia area was identified as the best fit.
Gardner Denver shares closed up 71 cents at $52.01.