COCOA, FLA. (Jan. 18, 4:25 p.m. ET) — Thermoformer Paragon Plastics Inc. plans to add 10,000 square feet of space to an adjacent building in Cocoa to provide more warehouse space and to expand its overall complex to 35,000 square feet.
“We'll be breaking ground next month,” said David Trout, Paragon founder and president, in a telephone interview.
He said the company is expanding a nearby 5,400 square foot building that it already owns, and that he hopes to have it completed by August.
As part of the change, the company has already added its second 3-station rotary thermoforming machine, and he plans to add another once the addition is completed. Paragon also has four single station machines.
Trout started Paragon in 1993 to make marine air conditioning components. The company has since moved on to manufacture parts for marine original equipment makers, as well as for aerospace, industrial and medical uses.
Trout said the company had record year in 2011, with sales up 18 percent. His goal this year is for a similar increase.
The company currently has 22 employees, and Trout plans to hire 10 more in the next three years, as part of an agreement with local, county and state officials that helped gain tax abatements for the expansion.