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.