Today, Gov. John Bel Edwards and Catamaran Solutions Chief Executive Officer E. Chip Ray announced Catamaran has completed the purchase of Reynolds Industrial Contractors Inc. in Minden and will create 120 new jobs in advanced manufacturing at the company’s 20-acre site over the next three years. With the purchase, Catamaran Solutions LLC will assume operation of a 135,000-square-foot industrial fabrication center, with plans to grow the facility’s capacity through future capital investments.
The Minden site will serve industrial construction and maintenance customers throughout the Americas. Catamaran’s business model centralizes workforce and supply chain needs for construction sites while integrating remote-sensing technologies and analytics to detect and predict maintenance needs at existing operations. In addition to the 120 new direct jobs in Minden, which will produce an average annual salary of $61,200, plus benefits, Louisiana Economic Development estimates the project also will result in 186 new indirect jobs, for a total of more than 300 new jobs in North Louisiana.
“Catamaran Solutions provides a glimpse into our state’s industrial services future,” Gov. Edwards said. “The company is harnessing the assets of a 40-year-old business in Minden, drawing on the talent of Louisiana’s top-ranked manufacturing workforce, and developing technology to create a new kind of industrial services company. We’re encouraged by the growth of Louisiana’s I-20 Cyber Corridor and communities like Minden that are attracting the leading jobs of the future for their people.”
Founded earlier this year, Catamaran Solutions is led by Chip Ray, who formerly served as president of CB&I’s Baton Rouge-based Capital Services group, which served customers worldwide through 15,000 employees. Catamaran’s leadership team, as part of the company’s strategic plan, identified the Reynolds Industrial business as an ideal acquisition in piping and structural fabrication.
“We’re very excited to establish our new operations in Minden,” Ray said, “and we’re glad to be working with James Graham of the city’s Economic Development Department and with Louisiana Economic Development to help solidify our expansion activities.”
To secure the Catamaran Solutions project, the State of Louisiana offered a competitive incentive package that includes the comprehensive workforce solutions of LED FastStart®, the nation’s No. 1 state workforce training program. In addition, Catamaran is expected to utilize Louisiana’s Quality Jobs Program.
“This is a wonderful early Christmas present,” Minden Mayor Tommy Davis said. “We intend to help Catamaran Solutions LLC exceed expectations as they implement their new investment here in Minden. The city’s economic development program is a long-term investment, and after three years is now beginning to show results.”
Approximately two-thirds of Catamaran Solutions revenue will be generated by out-of-state sales. The company anticipates expanding its Louisiana workforce to as many as 500 employees statewide over time.
“We congratulate the City of Minden for recruiting Catamaran Solutions, which will create good-paying jobs for North Louisiana,” said President Scott Martinez of the North Louisiana Economic Partnership. “I commend Mayor Tommy Davis and Minden Director of Economic Development James Graham for their leadership in bringing this quality company to our region.”
About Catamaran Solutions
Founded by a diverse group of industry executives, Catamaran Solutions LLC recognizes the convergence of a new work model, one that incorporates emerging technologies to provide customers with lower cost, faster response and higher-quality services. By building the company on a modern technological foundation, Catamaran is able to disrupt the traditional approach to providing construction, maintenance, repair and analytics services. For more information, visit CatamaranSolutions.com.