Sunday, October 11, 2009

One year after ribbon cutting, Valley company closes it doors

By Arthur Foulkes
The Tribune-Star

A local company that expanded into a new 37,500-square-foot facility one year ago near the airport has closed its doors.

Reel Time Logistics officially opened a new warehouse and distribution facility just west of the Terre Haute International Airport–Hulman Field in October 2008. Now the doors of that business are locked and no truck or other traffic is visible at the facility.

“Reel Time Logistics, to our knowledge, is closed,” said Lisa Johnson, marketing and communications manager for the Terre Haute Economic Development Corp.

One year ago, Reel Time Logistics had a ribbon-cutting ceremony at its new facility on South Hunt Street to expressions of optimism about the company’s future.

At the time, the company was providing third-party logistics services for companies such as Dicks Sporting Goods, Clabber Girl, Great Dane Trailers, Scott Pet Products and Cummins-Consolidated Diesel Co., a company official said at the time.

Reel Time Logistic employed about 50 people in October 2008, mostly full-time truck drivers, another company official said.

The Reel Time Logistics property, which includes the 37,500-square-foot warehouse and distribution facility and 20 additional undeveloped acres, is listed for sale with an Indianapolis real estate company. The property includes a little more than 30 acres in total with an asking price of $2.25 million, according to the Turley Martin Tucker Web site.

Local contractor Thompson Thrift built the Reel Time Logistics facility. Reel Time was founded 51⁄2 years ago in Terre Haute and operated out of offices south of the city while its truck fleet was based on Margaret Avenue prior to opening the Hunt Street warehouse and distribution building.

Company officials for Reel Time Logistics could not be reached Friday for comment.

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