SARASOTA, FLA. (July 19, 2:30 p.m. ET) — Injection molder Octex LLC is finalizing plans for an expansion that will nearly double its manufacturing space and employee base.
The Sarasota, Fla.-based company plans to add 26,000 square feet to its existing 33,000-square-foot business, said spokesman Daniel Mallon in a July 18 telephone interview.
Octex has also been adding employees this year, with another 13 workers to the 61 it had earlier in the year. The company expects it could eventually have another 80 people on staff.
The company has both molding and mold making, producing a variety of parts for the electronics, medical and consumer products industries. It currently has 22 presses and Mallon said the firm will add six with the expansion, with room to double its existing fleet eventually.
Business has picked up for Octex and its customers as the economy revived, allowing it to launch the expansion, Mallon said. He credited assistance from the company's bank, BB&T Corp., and Sarasota County government and economic development officials who are providing long-term bond support to help finance the work.