PHILADELPHIA — Growing Mac Closures Inc. of Waterloo, Quebec, said it anticipates opening a U.S. plant this year and is purchasing new equipment.
The company just bought two 250-ton injection presses and plans to buy two more by the end of the year, for a total investment of $400,000. The 62-year-old closure manufacturer develops proprietary and custom products, and equipment. Its caps and closures are made mainly of polypropylene, as well as polystyrene and polyethylene.
``We launch seven to eight new products a year,'' Louis Boulerice, vice president of sales and marketing, said at the Eastpack trade show, held May 19-21 in Philadelphia.
Mac plans to open a plant with eight to 10 presses in the Los Angeles area, he said.
``It's good geographically,'' Boulerice said. ``We are trying to find partners. We would really like to buy or merge with another company, one with a nice product to add to what we're doing. It will broaden our potential customer base.''
Currently, 35 percent of Mac's sales are in the United States. It serves the household chemical, pharmaceutical, personal-care and food and beverage markets. Mac operates 32 presses and employs about 105 at its Waterloo plant. Boulerice estimates the firm spends about $1.5 million annually on tools.
Last year, the company had sales of $15 million; it is targeting 15 percent growth for this year.