“This facility is a reflection of Metris’ past and future growth and demonstrates the commitment we have made to our customers, employees and shareholders,” said Metris Chairman and CEO Ronald N. Zebeck. “Our expansion here in Minnetonka will enable Metris to keep pace with the phenomenal growth we have already achieved.”
The new facility is located in the Crescent Ridge Development, 10900 Wayzata Blvd., in Minnetonka. It provides more than 305,000 square feet (28,340 m2) of space on nine levels.
To reinforce the company’s commitment to helping employees balance work and family issues, Metris has dedicated a portion of the new building for Metris KIDS, an onsite child care facility for employees’ children. The facility also features a company-subsidized cafe and employee fitness center.
U.S. Senator Rod Grams, U.S. Rep. Bill Luther, St. Paul Mayor Norm Coleman, MasterCard® officials and local charity partners, including representatives from the Uptown Art Fair, Dayton’s Challenge and Gillette Children’s Specialty Healthcare, are scheduled to join Metris executives and employees to celebrate the opening of the facility.
Opus Northwest L.L.C. was the developer and general contractor on the project. CB Richard Ellis was the real estate advisor. Ellerbe Becket served as the architects, engineers and interior designers of the tenant improvements.
Metris Companies Inc. is an information-based direct marketer of consumer credit products and enhancement services. The company was recently recognized as one of “America’s 100 Fastest-Growing Companies” by Fortune magazine. Based in Minnetonka, Minn., Metris also has operations in Scottsdale, Ariz.; Jacksonville, Fla.; Orlando, Fla.; Champaign, Ill.; White Marsh, Md.; and Tulsa, Okla. Metris employs approximately 4,200 people.
Certain information discussed in this press release may constitute forward-looking statements within the meaning of the Federal Securities law. Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those factors are: higher default and bankruptcy rates of the Company’s target market of moderate-income consumers; lack of seasoning of the Company’s credit card portfolio, which creates a risk of increasing loss levels; the Company’s limited history as a stand-alone entity; risks associated with acquired portfolios; interest rate levels; dependence on the capital markets and securitization of the Company’s credit card loans to fund operations; and the general economic climate. For further information on factors that could impact the Company, and statements contained herein, reference should be made to the Company’s filings with the Securities and Exchange Commission, including quarterly reports on Form 10-Q, current reports on Form 8-K and annual reports on Form 10-K.
