TSTY » Topics » First step in transition completed; new bakery scheduled to open in 2010

This excerpt taken from the TSTY 8-K filed Apr 24, 2009.

First step in transition completed; new bakery scheduled to open in 2010

PHILADELPHIA--(BUSINESS WIRE)--April 20, 2009--Tasty Baking Company (NasdaqGM:TSTY) today announced its move into new corporate headquarters at Three Crescent Drive within the Philadelphia Navy Yard Corporate Center. The opening of the Company’s corporate offices marks the first phase in the complete relocation of its Philadelphia operations to the Navy Yard. The second phase of the relocation includes a 345,500 square-foot manufacturing facility, distribution center and warehouse still in construction and scheduled to be fully operational by June 2010.

“The completion of our new corporate headquarters represents another step in the transformation of Tasty Baking Company and the first stage of our relocation to the Philadelphia Navy Yard. We are proud to begin a new chapter in the history of the company and look forward to completing our move with the commissioning of the bakery next year,” said Charles P. Pizzi, President and Chief Executive Officer of Tasty Baking Company.

Tastykake’s new corporate offices occupy approximately 36,000 square feet in the building at Three Crescent Drive, which was developed by Liberty Property Trust and Synterra Partners. The new offices are expected to achieve the US Green Building Council’s LEED® (Leadership in Energy and Environmental Design), Gold certification employing energy efficient HVAC, water conservation, recycled building materials, and day-light harvesting, among other environmentally efficient features that make it a state-of-the-art, “green” office environment.

While Tasty Baking Company is moving to the Philadelphia Navy Yard, the company remains committed to its longtime community partner, Allegheny West Foundation. Allegheny West is a nationally recognized community development corporation actively involved in the revitalization of North Philadelphia’s Allegheny West neighborhood.

“The successful transition to the new corporate headquarters could not have been accomplished without the dedication and commitment of Governor Edward G. Rendell, Mayor Michael A, Nutter, the Philadelphia Industrial Development Corporation (PIDC), our bank group, led by Citizens Bank, which includes Sovereign Bank, Bank of America and M&T Bank, Liberty/Synterra, Nelson Architecture and Engineering Services, INTECH Construction, A. Pomerantz & Company, the Binswanger Corporation and Stradley Ronon Stevens & Young,” said Larry Weilheimer, Senior Vice President & General Counsel at Tasty Baking Company, who led the efforts to relocate the company’s corporate headquarters. “This move reflects our longstanding commitment to our employees and the City of Philadelphia.”

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