Injection molder Craftech Industries Inc. is spending $3.5 million to build a factory in Kinderhook, N.Y., that will more than double its space and provide room for future growth.
Craftech has fewer than 20 molding machines now but anticipates doubling its business in the next five years, said Skip Gerard, vice president and one of the firm's owners. The company said its need for additional injection presses or employees will depend immediately on the economy.
"If we go into the so-called recession at this point, we will have a year or two of laying low," Gerard said. "We expect that in the next five years we will double."
The company will move from its current 30,000-square-foot location in Hudson, N.Y., to an 80,000-square-foot plant in nearby Kinderhook this summer, Gerard said Feb. 20 by telephone. Besides injection molding, the firm machines plastics and has a tool shop. It performs general custom molding and makes parts for aircraft, submarines and missiles.
Much of the firm's growth is driven by the computer industry, where Craftech's parts are used in machines that make semiconductor chips, Gerard said. While the company's expansion moves forward, he said it is watching the sluggish computer manufacturing industry closely.
"If it takes a dip, we'll take a dip with it, but that will only last a year or two," Gerard said. "It will come roaring back ... higher and faster than before."
Company officials declined to disclose sales figures but said they have tripled business in the past six years. The company began more than 30 years ago as a plastics machining shop, started dabbling in molding in the mid-1980s and started its tool shop in the mid-1990s.