WINONA, MINN. — Composite materials maker PlastiComp LLC has installed a new long-fiber thermoplastic (LFT) compounding line at its headquarters site in Winona, increasing the plant's annual capacity by 5 million pounds.
The new line is needed to handle anticipated growth in medical markets, energy markets and sporting goods, President and CEO Steve Bowen said in an April 19 news release.
Bowen added that the 10-year-old firm has seen its sales nearly triple since 2011. It has also licensed its technology on nine production lines being operated by other companies.
“Our focus is new applications [and] new market space,” he said in the release. “We have little interest in pursuing share-shift growth from competitors in LFT pellet sales.”
PlastiComp bought a 75,000 square foot building in 2011, and since then has added 10,000 square feet of manufacturing space to the structure. The firm also continues to operate its original 30,000-square-foot plant in Winona.