DAYTON, OHIO (Oct. 20, 3 p.m. ET) — Injection molder All Service Plastic Molding Inc. of Dayton, Ohio, is investing upwards of $5.5 million in a consolidation project that will fold three existing leased facilities into one state-of-the-art building in nearby Vandalia, Ohio.
A new 140,000-square-foot building is scheduled for completion in late spring, ASPM President and CEO Joe Minneman said in an Oct. 19 telephone interview.
“That’s what we’re constructing,” he said. “More than likely it will be expanded upon shortly after we get into it. It’s expandable to 185,000 square feet.”
ASPM has been in business since 1984. It operates two facilities in Dayton and one in nearby Fairborn, Ohio. Those locations are about 13 miles apart and comprise 125,000 square feet. The firm is part of Minco Group, a family-owned company that includes Minco Tool & Mold Inc., also in Dayton.
ASPM will take a methodical approach to the move, Minneman said. “It will take us about one year to be fully operational,” he said.
For roughly a year, the company conducted a meticulous search for the best location, including sites outside Ohio. “The business friendly environment in Vandalia is what made us decide to locate there,” Minneman said.
ASPM operates with 58 injection molding presses ranging in clamping force from 50-1,100 tons. Officials are building a little more capacity into the new facility and plan on expanding it fairly quickly. Its equipment cache includes all-electrics.
“We haven’t bought anything that isn’t all electric in greater than five years,” Minneman said. “Our focus is to purchase electric presses.”
ASPM is growing in its automotive and appliance markets, but has seen improvement in other targeted business, including medical, assembly and decorative molding. It employs 180 full-timers and roughly 80 temporary workers. The consolidation will make the firm more efficient, and allow it to support the growth that it is experiencing, Minneman said. Sales have been growing more than 10 percent annually, he said.
“We were fortunate to continue to grow through the 2008-09 period,” he said of the company’s experience during the Great Recession. “We had large enough diversity to ride it out.”
The city of Vandalia and ASPM worked together to get the project accomplished, said Rob Anderson, Vandalia’s city manager.
“They’re a good company,” Anderson said in an Oct. 19 telephone interview. “We wanted to make sure we got the project for Vandalia. It’s a large project and we’re happy they chose us. We felt like we needed to be aggressive to get them to locate here.”
The incentive package included state grants, a grant from Montgomery County and incentives from the city. The county grant was $200,000 to help offset acquisition of the land. The state incentive focused on a rebate in state income tax toward jobs creation and city incentives related to jobs creation.