PH Group Inc., which builds Trueblood vertical injection presses, compression molding machines and metal-stamping presses, plans to invest $4 million in a new headquarters plant in Columbus, Ohio.
PH Group purchased 7 acres so that it could construct a 40,000-square-foot building.
Construction should be completed by the fall of 1999.
The decision, which was announced in September by the publicly traded PH Group, means that the company will remain in Columbus.
PH Group is relocating its compression molding manufacturer, St. Lawrence Press Inc., from Romulus, Mich., to Columbus. St. Lawrence Press manufactures equipment that processes sheet molding and bulk molding compounds.
``The $4 million investment in land, building and machinery reflects the company's commitment to become a dominant force in the manufacture of insert molding machines,'' said Charles T. Sherman, PH Group's chairman, president and chief executive officer.
The company is purchasing a high-speed computer numerically controlled boring mill and is adding Pro/Engineer software for computer-aided design.
Three overhead cranes will move parts and machines at the new facility.
The building also will house a machine demonstration area and space for training.
The site will allow future expansion to as much as 100,000 square feet, according to Sherman.
PH Group is traded on the Nasdaq Electronic Bulletin Board.
For 1997, the company reported sales of $13.8 million and profit of $604,846. Trueblood insert molding machines accounted for about half of total sales.
End markets for PH Group's injection molding machines include automotive, electrical, medical, aircraft and consumer goods.