When Par 4 Plastics Inc. President Joe McDaniel looks out the window, he literally sees a new company rising across the street.
The new firm, Par 4 Assemblies Inc., was to begin operations in early September in a 113,000-square-foot plant in Marion, Ky., once owned by Tyco International Ltd.
``Injection molding and tooling is still our focus, but for us to survive, what we have to do is bring more to the party. We will have to offer the customer more,'' McDaniel said by telephone.
The new company will employ 20-25 by the end of September, and McDaniel said it plans to reach 125 workers by 2004.
``Initially the focus is on assemblies, drawing off our existing customer base,'' said McDaniel, adding that his Marion-based company aims to reach Tier 1 status in the automotive field.
With the built-in customer base, he said, the new company could total sales of $7.5 million to $8 million the first year. Par 4 Plastics had sales of $11 million last year and expects to reach $12 million this year.
McDaniel also is president of the new company, which is a joint venture with Harumi Minami, the assembly firm's director of sales and marketing. Her husband, Paul Nielson, will assume a position based on his background in quality assurance and project management.
Par 4 Plastics purchased 24 acres, including the Tyco building, back in February. The property had been vacant since Tyco closed it in January 2000, putting about 305 people out of work.
According to the Crittenden County Economic Development Corp., two years ago regional unemployment hit 15.9 percent, but since has dropped to 5.3 percent.
``We're fortunate to live in this particular community,'' McDaniel said. ``The work ethic is excellent. We have 115 people at Par 4 and we pay a bonus based on results. They share in everything that we accomplish.''
Par 4 Plastics makes interior auto parts and exterior lighting. It also does custom molding in consumer and construction markets.