Hi-Tech Plastics Inc. is expanding to Texas with a 60,000-square-foot operation, part of a five-year plan to double the company's size.
The Cambridge, Md.-based injection molder will begin production in January at a leased site in Mission, Texas. The operation will be known as HTP Rio Grande LP, and will bring a large-tonnage presence to that area, officials said.
``It's something that we've grown into as a company,'' said Kenny Kreiser, vice president of sales and marketing. ``There's a need for us to carry that niche [to Texas] as well.''
Privately held Hi-Tech's incentive is to serve Black & Decker Corp., which has operations in Reynosa, Mexico. Initially, the Towson, Md.-based power-tool maker will make up nearly all of HTP Rio Grande's business.
The firm expects to begin production with eight presses with clamping forces of 100-1,500 tons, from various producers. Hi-Tech expects to double the number of presses by the end of 2003, part of a plan to expand the facility by 30,000 square feet. At that point the operation will employ 43.
``The Rio Grande Valley is a vibrant and growing area,'' said President Doug Bennett in a news release.
``We view this as a strategic move that provides us with tremendous growth potential.''
Although Black & Decker recently announced it will cease some operations in Maryland, Hi-Tech officials said its two plants in that state will not be affected.
``We expect to grow the company in both locations,'' Keiser said in a Dec. 11 telephone interview.
Officials anticipate 2002 sales of $20 million, up from $18.2 million last year. The firm employs 130 at its 62,000-square-foot headquarters.