Intek investing $1 million to expand capacity

By Michael Lauzon
Correspondent

Published: July 23, 2014 1:59 pm ET
Updated: July 23, 2014 2:04 pm ET

Image By: Intek Plastics Inc. Intek Plastics installed three additional extrusion lines in Hastings, Minn.

Related to this story

Topics United States Extrusion
Companies & Associations

Custom profile extruder Intek Plastics Inc. has invested more than $1 million to expand its production capacity by 17 percent.

Intek has installed three additional extrusion lines at its Hastings, Minn., headquarters plant. It did not break out how many extrusion lines it had been running prior to the expansion completed in late June.

“The expansion helps us support our customers in our core markets — construction, refrigeration, lighting and industrial OEMs — and the growth they are experiencing,” stated Intek President Mike Kinning in a July 13 news release. Higher capacity also will help Intek enter new markets, he added.

Intek’s additional lines are two new Davis-Standard single-screw machines and a rebuilt Cincinnati Milacron twin-screw extruder.

The company predicts the extra capacity will help boost its annual sales to $50 million over the next few years. Kinning said that his firm experienced significant growth in the second half of 2013 and it expects growth to continue in the near future. He did not disclose sales figures for 2013.

The private firm founded in 1961 employs more than 160 and expects to add as many as 10 in the next couple of years.

Intek extrudes and fabricates products for medium-to-large OEMs. Its major raw materials include PVC, acrylics, polycarbonate and thermoplastic elastomers. It also operates a facility in Hawthorne, N.J., that extrudes components for the point-of-purchase display and other industries.


Comments

Intek investing $1 million to expand capacity

By Michael Lauzon
Correspondent

Published: July 23, 2014 1:59 pm ET
Updated: July 23, 2014 2:04 pm ET

Post Your Comments


Back to story


More stories

Image

PolyOne launches Geon BIO PVC using soy-based materials

April 24, 2015 11:48 am ET

More than a decade of research is paying off for Battelle Memorial Institute in the form of Geon BIO PVC compounds from PolyOne Corp.    More

Image

California may require more recycled content in bottles

April 24, 2015 11:16 am ET

California lawmakers are considering a pair of bills that would bump up the required recycled content in plastic bottles for beverage companies to...    More

Image

Paulson increasing its training offerings, opening Florida tech center

April 24, 2015 10:55 am ET

Paulson Training Programs Inc. is boosting its efforts to help the plastics industry find more skilled workers, entering an educational alliance,...    More

Image

Eriks NV buys two US polymer companies

April 24, 2015 10:38 am ET

Dutch company Eriks NV is expanding its reach in the North American plastics sector with two acquisitions: Dallas-based Seals and Packings Inc. and...    More

Image

Bemis Co. reports sales growth

April 24, 2015 9:57 am ET

Bemis Co. Inc., in what the company is describing as a strong quarter, saw consistent earnings from continuing operations.    More

Market Reports

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

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

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

September 15, 2015 - September 17, 2015Plastics Caps & Closures - September 2015

More Events