LONGVIEW, TEXAS (Aug. 30, 2:40 p.m. ET) — The Longview Economic Development Corp. has recruited another plastics company to replace a company that reportedly has shut down its plant there.
The economic development agency said Aug. 24 that Dallas Plastics Corp. of Mesquite, Texas, a manufacturer of specialty and converter polyethylene films, plans to purchase an existing 55,000-square-foot building and begin installing blown film extrusion equipment in the fall.
In an Aug. 29 telephone call, Mark Thoreson, president of Dallas Plastics, confirmed that the company is locating some manufacturing in Longview. He would not comment further.
According to the economic development agency, manufacturing at the plant is slated to begin during the first quarter of2012. Over the next 10 years Dallas Plastics will invest approximately $31.6 million in payroll, benefits and capital. The company received a $500,000 incentive package payable over a period of five years to aid the project, according to a news release.
The Longview News-Journal reported Aug. 25 that the plant formerly was owned by Exopack Holding Corp. of Spartanburg, S.C., which was consolidating its former Texas operations in South Carolina. Exopack officials did not return requests for more information.
On Aug. 4, Exopack CEO Jack Knott resigned to become managing director of buyout firm Sun Capital Partners Inc. of Boca Raton, Fla., which owns Exopack. Tom Vale, president and chief operating officer of Exopack, is serving as interim CEO.
According to the newspaper, Dallas Plastics' investment in Longview will add up to $5.8 million and 65 new jobs over the next six years.
According to its website, Dallas Plastics was founded in 1989. It has plants in Mesquite and Wentzville, Mo.
The company makes specialty films as narrow-width layflat tubing, critical tolerance films, non-scratch LDPE and high tensile drawtape for drawstring bags. Dallas Plastics supplies the food, medical, agricultural, retail, automotive, aircraft and electronics markets.