Rico-Plast Industries Inc. plans to add another film line to the eight it is running flat-out in Montreal.
The private firm ``has a new line on the drawing board,'' but is waiting for solid signs that the general economy has recovered, President and Chief Executive Officer Ken Ahmedkhan said in a recent telephone interview. Such signals might not occur until after the U.S. elections in November, he said.
The new blown film line would follow a C$500,000 (US$381,000) multiphase streamlining Rico-Plast has undertaken in the past year, Ahmedkhan said. The firm increased its maximum width for polyethylene sheet, tubing and bags on a roll to 84 inches, from 60 inches. Rico-Plast has added in-line two-color printing capability for both sides of a web.
The company also has entered the markets for garment and dry-cleaning bags and has added an 80-inch-wide machine to make bags on a roll for construction and agricultural markets.
Rico-Plast's sales grew 35 percent last year to C$7.7 million (US$5.5 million). Its main business is selling industrial and consumer bags, but it also supplies converting film. The firm's 30 employees processed about 7.7 million pounds of PE last year.
Ahmedkhan bought the company in 1995, three years after it was founded.