Modern Plastic Technics Inc., a West Berlin, N.J., injection molder, plans to invest $5 million in a project to expand and to buy space it currently rents.
Included in the expansion will be the purchase of eight new molding presses with clamping forces of 100-200 tons, two two-color injection machines, high-speed assembly equipment and peripheral support equipment. The firm also has plans to expand its toolmaking capabilities.
Modern Plastic Technics will invest in the project during the next two years.
The company, which employs 240, currently operates 33 presses with clamping forces of 25-300 tons. A spokesperson said the company probably will hire additional employees with the expansion, but could give no numbers.
The investment will allow Modern Plastics Technics to buy the four-building industrial complex it currently rents, plus an additional building. The buildings total 60,000 square feet — a 25 percent increase in the company's manufacturing and assembly space.
In 1998, Modern Plastic Technics invested more than $750,000 in capital equipment, including two molding presses, six robots and assembly equipment. It reported 1998 sales of $21.1 million, up from $20.8 million in 1997.
Modern Plastic Technics, which achieved ISO 9002 certification March 1, mainly serves the electronics industry. Other markets include telecommunications, computer and business machines, consumer products and automotive.