Erie Plastics Co. expects to complete an expansion valued in excess of $15 million by the end of the year.
The Corry, Pa., custom molder has been adding injection molding presses and boosting plant space and soon will move to new headquarters in Corry, president Paul Roche said in a telephone interview.
Erie Plastics has bought 15 new Husky and Engel injection presses for its Corry plant and expects to buy another five or 10 before year-end, according to Roche. That will boost Corry's press count to 55 or 60.
Roche said his firm will move Erie Plastics' headquarters and innovation center out of the existing Corry facility into a renovated, 33,000-square-foot building in Corry. The move will free up more space in the current 175,000-square-foot building for manufacturing.
The Pennsylvania Industrial Development Authority granted Erie Plastics a $340,000 loan for the $850,000 renovation and move.
The soon-to-be headquarters is attached to a 430,000-square-foot building Erie Plastics acquired last summer and is using as its main warehouse.
Last year Erie Plastics set up a satellite injection molding plant with 20 presses in Westborough, Mass., to be close to New England customers such as Gillette Co. Roche said his company is considering other regional plants but won't make any decisions until it fully utilizes its currently expanding capacity.
Roche said the PIDA loan to upgrade its headquarters and innovation center will assure the firm remains headquartered in Corry. Last year Erie Plastics threatened to leave the area if regional development agencies didn't help with costs to upgrade and expand in Corry. Its decision to stay protects about 310 jobs.
Erie Plastics had custom injection molding sales of $44.9 million last year. It focuses on rigid packaging products like closures and containers.