Medical processor Value Plastics plans to expand

By Jeremy Carroll
Assistant Managing Editor

Published: September 26, 2013 2:07 pm ET
Updated: September 26, 2013 2:11 pm ET

Related to this story

Topics Medical Pipe/Profile/Tubing Extrusion
Companies & Associations

Value Plastics Inc. is considering a $28 million facility in Loveland, Colo., to manufacture plastic tubing components for the medical device industry.

Loveland city officials are considering offering the company a financial incentive of upward of $1 million to build its new facility in the city. According to a city memo, the company also looked at locations in Georgia, Illinois and Ohio.

Value Plastics produces over 4,000 various plastic tubing components, including check valves, stopcocks and quick connections for the medical device industry. The company sells the components to various medical device equipment manufacturers.

The company would relocate 83 jobs to the facility and add approximately 60 new jobs with an average salary of $72,000 annually, a city document said.

The incentives include wavier of building permits fees and construction materials use tax ($311,110); wavier of capital expansion fees and system impact fees ($230,000); cost infrastructure improvements on the site including water, sewer and electricity ($313,771); assumption of the third party reimbursement agreement ($39,472); and rebate of business personal property tax for five years ($200,000).

The City Council is expected to vote on the incentive package on Oct. 1 and the company is expected to make a final decision on the location of a new facility in November, city documents said. An official with Value Plastics did not return a phone call seeking comment on the potential new facility.

Value Plastics is a subsidiary of Westlake, Ohio-based Nordson Corp. The company had $1.4 billion in sales in 2012 with more than 5,000 employees.


Comments

Medical processor Value Plastics plans to expand

By Jeremy Carroll
Assistant Managing Editor

Published: September 26, 2013 2:07 pm ET
Updated: September 26, 2013 2:11 pm ET

Post Your Comments


Back to story


More stories

Image

TPUs finding applications in drug-delivery applications

March 30, 2015 12:56 pm ET

Lubrizol Corp. is sending its thermoplastic polyurethane products into medical products, foam and film.    More

Image

Eastman Chemical expanding Tritan co-polyester capacity

March 27, 2015 10:00 am ET

Eastman Chemical Co.'s Tritan-brand co-polyester business continues to grow, with 35 million pounds of capacity added late last year and a second...    More

Image

Getting a real feel for how 'vinyl saves lives'

March 27, 2015 6:00 am ET

While I'm certainly not shipping off to Africa anytime soon, I got a taste of what medical professionals go through in the fight against Ebola and...    More

Image

Flextronics launches global injection molding, tooling unit

March 26, 2015 4:29 pm ET

Flextronics International Ltd. (Booth S34125) is officially launching Precision Plastics, a global injection tooling and manufacturing unit, as a...    More

Image

Intertech Medical adding presses, people

March 23, 2015 3:28 pm ET

Colorado's Intertech Medical has added five new injection molding presses and expects to add up to another four machines to keep up with a growth in s...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events