OAKLAND, TENN. (April 27, 12:15 p.m. ET) — Ring Container Technologies Inc. will relocate its Hillside, N.J., container blow molding facility to Springfield, N.J.
The firm has taken out a long-term lease on 64,338 square feet of industrial space in Springfield, confirmed Barry Cohorsky, vice president of real estate firm NAI James E. Hanson of Hackensack, N.J., which represented Ring.
He said the building will be ready for occupancy about late May.
Ring will be able to retain the Hillside employees because Springfield is nearby. A major undisclosed customer also will be in the vicinity.
Ring will blow mold containers for the food industry in Springfield. Its lease covers a portion of a 206.901 square foot building.
Ring officials at its head office in Oakland, Tenn., did not respond to requests for an interview.
Ring had blow molding sales of about $260 million in 2010, according to Plastics News' recent survey. In that year it operated 19 blow molding plants. Recently Ring agreed to buy the plastic bottle business of Bway Corp. of Atlanta, including plants in Indianapolis and Cedar City, Utah. The acquired plants make blow molded and injection molded containers and had 2011 sales of about $21 million. They focus on agricultural products and chemicals and their products range up to 10 liters in volume.
Ring also said recently it plans to build a new facility in Modesto, Calif., and to invest nearly $8 million in its Chester, S.C., operation.