By: Michael Lauzon
February 27, 2013
MONTREAL -- Intertape Polymer Group Inc. plans to invest $26 million to buy equipment and relocate from a current pressure-sensitive tape production facility in Columbia, S.C.
The firm, with corporate offices in Montreal and in Bradenton, Fla., wants to move to a single facility with a layout conducive to modern equipment, said spokesman Pierre Boucher in a telephone interview. Now the company occupies several buildings in Columbia. It wants to stay in South Carolina, in the Columbia area. It has not decided whether to build, lease or purchase a facility, according to Boucher.
Intertape will relocate and shut down its Columbia operation over two years ending the first half of 2015.
"Intertape will be undertaking its largest single facility improvement in many years," President and CEO Gregory Yull said in a news release. "This major investment of approximately $26 million in South Carolina is an unequivocal long-term commitment to the tape business, our employees and the state of South Carolina."
Intertape acquired the Columbia operation in 1998. It employs 350 and has total area of 350,000 square feet, said Boucher.
Intertape expects productivity gains and energy savings of more than $13 million per year starting in the first half of 2015.
“This new state-of-the-art manufacturing process is more environmentally friendly and is a welcome addition to the community,” noted Kelvin Washington, chairman of Richland County Council.
Intertape will take a charge of $28 million to $32 million for the plant relocation in the first quarter of 2013. The packaging company has already bought $2.7 million worth of equipment in the fourth quarter of 2012 and expects to spend another $15 million to $17 million in 2013 for equipment. Expenditures announced do not include whatever real estate expenses the company will incur.
Intertape makes a range of plastic film and paper-based pressure sensitive and water-activated tapes, polyolefin films, woven fabrics and related packaging systems for industrial and retail use. It employs about 1,800 in 16 facilities, including ten manufacturing plants in North America and one in Europe.