UPDATED —Custom injection molder Precision Southeast Inc. will establish operations in a new 50,000-square-foot facility in Marion, S.C., mere hundreds of yards from the company's existing location in the city.
Precision Southeast molds parts for the filtration, appliance, recreation and firearms, appliance and automotive end markets. The new facility, scheduled to be operational in mid-2015, will initially provide warehousing and light manufacturing, CEO Steve Stradtman said, with plans to expand within five years.
“We just are really taking advantage of the fact that the business is in a very expansionary mode right now, and our current facilities were very limiting in terms of design… and it was an opportunity to begin to occupy this basically state-of-the-art facility, and grow into it as the company grows,” Stradtman said.
Precision Southeast also recently made a $2 million investment in its existing operations in Horry County, including 60 new jobs. The Marion expansion, representing a $16.6 million investment, will include about 140 new jobs over the next five years, ranging from entry-level to skilled positions, according to a news release.
Myrtle Beach-based Precision Southeast reported 2013 sales of $24 million.