WhiteRidge Plastics Inc. plans to expand its blow molding operation in Reidsville.
The firm is seeking approval for $3 million in state tax-free industrial revenue bonds to help finance the project. WhiteRidge said the first phase of the expansion includes spending about $1 million on new equipment. That portion is scheduled to begin within three months. The expansion will create at least 25 jobs and many of those will be added immediately, the company said in a news release.
WhiteRidge last week got its first level of approval for the state bonds from Rockingham County Industrial Facilities and Pollution Control Financing Authority. The company can now apply to the state's Department of Commerce for the bonds. WhiteRidge obtained an industrial revenue bond worth $3 million in 1998.
The company expects to complete the expansion project in 2005.
WhiteRidge began production in 1995. It had estimated blow molding sales of $6.5 million in 2000, when it operated eight blow molding machines. Its key markets are marine, agriculture and power tools.
Company founder and Chief Executive Officer Robert Hartman declined to elaborate on expansion plans.