GRAND HAVEN, MICH. (Aug. 18, 4:05 p.m. ET) — A Michigan injection molding company is planning $4 million worth of new equipment for a “significant growth spurt” it expects starting in the second half of 2011.
Grand Haven Custom Molding LLC opened in 2010 in Grand Haven, Mich. Owner Karl Chapel is the son of Al Chapel, who founded injection molder Grand Haven Plastics in 1983. Karl Chapel was vice president and general manager of that firm before launching the new business in an existing industrial building.
In paperwork filed with the city of Grand Haven requesting a tax break, Chapel said the company expects to grow from a start-up with annual sales of $4.5 million to a $30 million operation by 2013. Grand Haven Custom Molding also expects to have 65 full-time employees with the expansion, compared to 15 now.
Chapel was not immediately available to discuss the company's plans, but the city paperwork stated it will buy the building it currently leases, replace the roof and bring in seven injection molding presses ranging in size from 400 tons to 1,500 tons.
It will also add auxiliary and assembly equipment.
The city council approved an industrial facility tax exemption for the company, which will reduce its taxes for 12 years.
