Raven Industries Inc. is spending $7.5 million this year to expand its engineered films unit with the addition of three new extrusion lines, including a seven-layer line.
Tom Iacarella, chief financial officer, said a monolayer and a three-layer line will be installed to increase capacity in Sioux Falls, where the firm is based. The company plans its first seven-layer line to expand into more complex films for industrial use. The films will protect items from wind, moisture and certain gases.
The new lines should be operational by October.
The investment is part of a three-year plan by Raven to invest at least $8 million a year in engineered films.
Iacarella said the expansion will increase extrusion, conversion and warehousing capacity for the company. In the fall, Raven expanded its manufacturing site to 150,000 square feet. Another 31,000 square feet will be added in the coming year.
The division makes specialty polyethylene films for industrial, construction, housing and agricultural uses.
Raven is celebrating its 50th anniversary this month. It started out by making high-altitude research balloons, something it is still involved in Sulfur Springs, Texas.
Raven also has divisions concentrating on electronics and flow controls.