SALT LAKE CITY (April 10, 11 a.m. ET) — Premier Plastics Inc., a Salt Lake City manufacturer that specializes in custom thin-wall thermoforming and retail packaging, plans to nearly triple the size of its operations.
Premier's expansion includes a new 27,000 square foot facility and the addition of two more high-speed plastic forming lines and additional packaging lines.
It also includes more than $2.5 million worth of new automated sleeving, heat shrink, shrink tube, and inline thermoforming equipment, said Jim Holbrook, president and owner of the company.
Premier has already added five new employees and plans to add another crew of 6-8 employees over the next year, he said.
The company currently operates out of a 10,000 square-foot facility. One it's outgrown after several record breaking years for both growth and sales, Holbrook said.
In the last four years, Premier has more than doubled its business and added more national accounts. The new expansion should increase efficiency and capacity and allow the company to keep up with demand, Holbrook said.
Premier reported sales of $2.1 million in 2011, up from $1.8 million in 2010, according to the most recent Plastics News survey.
Premier has seen success despite a global economic downturn, something Holbrook attributed to the company's reputation for high quality and fast delivery.
“I decided not to participate in the recession,” he joked.
The company also manufactures retail packaging, like blister and clamshell packaging, and people will always need to buy things, he added.
“That's why I think we've been successful, we fill a niche,” he said.