Prism Products Inc. will move to a larger plant in Houston to accommodate growth in its proprietary housewares line and other injection molding work. Prism's prime houseware item is Microvent, a polypropylene storage container that can be microwaved with its lid on. Prism President Kenneth Yang said Microvent's lid has two series of holes. When the holes are lined up, steam can escape from the container. Consumers twist the lid to make the holes non-aligned when they want an airtight seal for storage. Prism debuted the container last year.
Yang said by telephone from his firm's current Houston facility that he plans to spend about $1 million in new molding and auxiliary equipment during the next three years. Current business, with sales of about $5 million annually, is using up all the space at Prism's leased, 65,000-square-foot plant.
Prism bought a 120,000-square-foot plant in Houston and plans to move there in about three months, after it completes renovations. The firm has 15 injection presses with clamping forces of 150-500 tons. Its other major markets are proprietary and custom molding of toys and furniture parts for U.S. and international customers.
Yang said Prism decided to stay in the Houston area because of good supply of raw materials and labor, and an opportunity to locate within the city's enterprise zone. The Greater Houston Partnership will provide a 10-year property tax abatement and help the company negotiate special electric power rates.
Yang said privately held Prism is majority-owned by an uncle, who also is majority owner of Asia Chemical Corp., a resin distributor based in Houston. Asia Chemical has annual sales of $30 million to $40 million, he estimated.