WINONA, MINN. (May 15, 2:10 p.m. ET) — Engineering resins compounder RTP Co. will almost double the size of the compounding plant it opened just last year in
When the expansion is finished, the plant will cover 105,000 square feet, officials with Winona, Minn.-based RTP said in a May 15 news release. RTP president and chief executive officer Hugh Miller said in the release that the expansion is needed to meet growing demand in
“We have experienced healthy increases across the board, but especially in our very long fiber and conductive compounds,” he added.
The expansion will include manufacturing equipment that RTP acquired earlier this year from Clariant International Ltd., as well as additional pultrusion lines and a new twin-screw compounding line. The new equipment will increase the site's annual production capacity by almost 18 million pounds per year.
The expansion also will create new jobs, but RTP officials declined to specify how many. The amount being invested in the expansion was described only as “substantial.”
The entire expansion should be operational by mid-2013. When it's completed, the site will be operating nine production lines.
In the release, RTP Europe managing director Jean Sirois said that the firm has seen growth in many key market segments, including automotive, medical, construction and industrial equipment. RTP's sales in
RTP operates 12 plants worldwide and ranks as one of