Premier Plastics Inc., a Salt Lake City operation that specializes in custom thin-wall thermoforming and retail packaging, plans to nearly triple its size.
Premier's expansion includes a new 27,000-square-foot facility and two more high-speed plastic thermoforming lines. It also includes more than $2.5 million worth of new automated sleeving, heat-shrink, shrink tube and in-line thermoforming equipment, said Jim Holbrook, president and owner of the company.
Premier has already added five employees and plans to add another crew of six to eight employees over the next year, he said.
The firm currently operates out of a 10,000-square-foot facility, one it has 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 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 said he attributes to the company's reputation.
“I decided not to participate in the recession,” he joked.
The company also manufactures retail packaging, including blister packs and clamshells.