ISO Poly Films Inc. is launching a major expansion, more than doubling the size of its facility and bringing in a new line to increase capacity for higher-end films.
The company will add a total of 80,000 square feet to its Gray Court, S.C., plant in two phases to be completed this fall, said Chairman and Chief Executive Officer Jon McClure. The expansion will add manufacturing and warehouse space at the 50,000-square-foot site.
The company has received $6 million in financing from Charlotte, N.C.-based equity firm CapitalSouth Partners LLC. About $5 million of those funds will be used for building and equipment, while some of the remaining money will be used to buy out several shareholders, said McClure, who founded the company in 1998.
Dale Brockman has joined the company as president, a title formerly held by McClure. Brockman is a former executive with packaging firms Crown Zellerbach, Pliant Corp. and Exopack LLC.
The company will install a three-layer blown film extrusion line from Windmoeller & Hoelscher Corp. by June. The Varex system will be the plant's sixth film line.
The company will add 50,000 square feet of warehouse space and 30,000 square feet for production, McClure said. The new line will be installed in the existing building once warehousing operations are moved.
The expansion will help the company continue to grow in high-end, multilayer film for food packaging, lamination and other uses, McClure said. Barrier film has been a growth area for the company. ISO last expanded its building in 2002, but waited for better economic times before embarking on larger growth, he said.
Mounting overseas competition, especially from China, helped drive the latest plan.
``We've got to be able to compete,'' said McClure, who testified before Congress last fall on trade issues. ``I think we're over the conservatism. We waited a little, but business is good and demand is good. It was time do this now.''
The company will add 10 workers, bringing its total to about 60. Gray Court-based ISO recorded sales of close to $30 million last year, he said.