PEABODY, MASS. — Hot runner maker Synventive Molding Solutions is planning to increase production capacity in Europe by 50 percent.
To meet increasing demand, Synventive will start a three-shift operation at its European headquarters factory in Bensheim, Germany. The company also plans to invest more than 1 million euros ($1.27 million) to expand its European manufacturing facilities.
Peabody-based Synventive, a unit of Barnes Group Inc., will add personnel, especially in the areas of design engineering and project management.
“We are responding to increasing European demand for our hot runner technology by significantly investing in and expanding our production capacity for Europe,” said Brian Bechard, vice president and general manager of Synventive Europe. “We are undertaking these measures to continue to support our European customers as the most competent provider of innovative hot runner solutions.”
Barnes, an industrial company based in Bristol, Conn., bought Synventive in 2012. Then last year, Barnes acquired Germany hot runner and mold maker Otto Männer GmbH.
Barnes on Oct. 24 reported third quarter sales of $317.7 million, an increase of 18 percent from the third quarter of 2013. The company credited new sales from Otto Männer, plus strong organic sales growth of 8 percent. Barnes is traded on the New York Stock Exchange.