SPRINGFIELD, OHIO (July 27, 12:40 p.m. ET) — Thermoformer and injection molder Tech II Inc. is in process of acquiring a 200,000-square foot building as it continues its expansion in in-mold labeling (IML).
“This building is just down the road from us,” President Dave Shiffer said in a July 27 telephone interview. “Looking at our business, this fits into the expansion that we're working on right now with thermoforming IML.”
Tech II is a family-owned firm that specializes in food packaging. Earlier this year the company embarked on a $6 million investment to add IML equipment and build a warehouse. Its total physical space is 260,000 square feet, with roughly 60,000 square feet for the warehouse.
The new building will pump up Springfield-based Tech II's physical space to 460,000 square feet.
The company recently purchased a Netstal injection press with 605 tons of clamping force, which is scheduled to arrive in a few weeks, Shiffer said. Tech II is continuing to invest in the injection molding portion of the business.
“On the injection molding side, we have some exciting things that will be coming up by the end of the year,” Shiffer said. “The warehouse that we were building, it's operational right now. The IML equipment is arriving as we speak. We're looking at this [new] building as a way to continue to grow and expand and serve our customers.”
Tech II also received some incentives from the state in the form of economic development loans. According to Ohio State Sen. Chris Widener's office, Tech II was the recipient of $1.7 million for purchasing the facility. Tech II will contribute $393,750 for a total investment of $2.3 million that also includes an Ohio Department of Development grant.
“Facilitating a company's ability to move into a larger facility will help them retain the over 300 employees they have now,” Widener said in the news release. “The new facility will also enable the company to expand and create jobs in the future. Tech II is an Ohio business that has adapted with the needs of the national market place and is now bringing new technologies to Springfield.”