Belgian label producer Verstraete IML has announced that it is expanding.
The company says the expansion is being made to accommodate sales growth. The company currently has sales of $156 million and expects sales to jump to $282 million by 2020.
The company said it will be implementing new printing presses by March 2015, which will see a 20 percent increase in production capacity.
Verstraete says it wants to create 25,833 square feet of extra production space and so it is constructing a brand new building in 2014 and 2015 at its site in Maldegem, Belgium.
“We have clear plans to grow,” said CEO Koen Verstraete.
The company added 80 new jobs in 2014.