Automotive injection molder Caldwell Industries Inc. is planning a major expansion of its Shively, Ky., facility.
The company received zoning approval June 2 and expects to complete construction and move in before the end of this year, said James Winchell, vice president and chief financial officer.
Caldwell occupies 25,000 square feet and will gain another 37,500 square feet, allowing the firm to vacate an 18,000-square-foot logistics center it leased nearby.
The company needs more space to accommodate new work. ``We picked up new customers,'' Winchell said in a telephone interview.
Caldwell employed 106 as of Dec. 31 and, in applications for the bond and refund, said it anticipates adding 75 positions over several years. The firm operates 18 injection molding machines, with clamping forces of 85-550 tons.
``Ultimately, with business growth, we can add another 20 presses'' in the enlarged facility, Winchell said. The company may add two presses of around 700 tons by the end of the year.
Caldwell injection molds components primarily for external automotive light housings and covers, and mostly uses engineered resins such as fiber-reinforced polypropylene, Santoprene thermoplastic elastomers and polycarbonate.
Winchell said Caldwell had sales of about $13 million for the fiscal year ended April 30, and he projects sales of $15 million in the current fiscal year. The firm was established in 2000.
