Sekisui Voltek LLC plans to consolidate all of its production in one location in Coldwater, Mich., within three years.
“Our plan is to reinvest $20 million back into our business through a comprehensive, three-year plan will help us be more competitive and position us to better serve our customers,” said Neil Beckhusen, president of Sekisui Voltek, in a news release.
Sekisui Voltek is a maker of cross-linked polyolefin foam for the tape, medical, automotive and general industry markets.
The company currently has operations in Coldwater and in Lawrence, Mass. Beckhusen said the company will start the process of closing the Lawrence plant in the first half of 2017.
He added: “We hope to retain a significant number of employees who are willing to continue with us in Coldwater.”
Beckhusen said Sekisui Voltek will invest in technology and physical upgrades to increase capacity and product lines in Coldwater. He added that the Coldwater plant does have room to expand.
Sekisui Voltek is part of Sekisui Chemical, a $12 billion global plastics and chemical company.