A Procter & Gamble Co. subsidiary is launching a plastics processing operation at an undetermined location in Ohio, according to government sources.
iMflux Inc. has innovative plastics technology and counts P&G as an investor and customer, according to records for the Ohio Tax Credit Authority. The firm’s proposed project would involve “expanding operational capacity,” the tax agency stated. It would invest in new machinery and equipment.
iMflux was approved for a 60 percent, eight-year tax credit for the creation of 221 full-time jobs that would generate an additional annual payroll of $17.5 million within three years of the project’s tax credit effective date.
iMflux is advertising on its web site to fill several positions. These include a plastics process control engineer, plastics process engineer, injection mold design engineer, a mold-making plant superintendent, and process and mold innovation leader.
The Ohio tax authority said iMflux’s proposal was approved Sept. 30. Ohio Gov. John R. Kasich subsequently announced the proposal along with eleven other credit-worthy projects that would in total create 1,265 jobs and retain 687 positions throughout the state.
“iMflux has to manage its cash position and expenditures aggressively,” stated a document from the tax authority. “As such they need access to cost-effective labor and real estate to ensure they are a low-cost solution provider. Every dollar of Ohio assistance will go a long way towards achieving this goal.”
iMflux is led by CEO Nathan Estruth, formerly a vice president responsible for business creation at P&G. He and his team spent the past three years partnered with P&G’s packaging business to develop iMflux. He has worked in several product areas during his 22 years with P&G.
Two iMflux executives bring extensive injection molding expertise to the new company.
Gene Altonen, iMflux’s vice president of research and development, was a research fellow leading technology developments in P&G’s injection molding organization. In his 23 years with P&G he was granted more than 40 patents and has 25 pending and spent his entire career with the firm developing packaging solutions, including injection molding innovations.
Jared Kline, vice president of customer care, “immersed himself in the injection molding industry to understand the end-to-end process and characteristics of successful molders, mold builders and technology providers,” according to the iMflux Website. Kline was with P&G for 18 years.