Custom injection molder Core Technology Molding Corp. will add space, injection molding machines and a third clean room in relocating about 10 miles, probably around August 2018.
"We have been running 24-7 for three years," Geoff Foster, CEO and president, said in a telephone interview. "Now, we will take regular holidays" such as the Fourth of July, Thanksgiving and Christmas.
Core Technology expects to occupy perhaps 30,000-40,000 square feet as the anchor tenant in a new 70,000-square-foot facility on the south campus of the Gateway University Research Park in Greensboro, N.C. The park is a collaboration between two Greensboro institutions, North Carolina A&T State University and the University of North Carolina.
The research park is expected to contribute $10.5 million, and the City of Greensboro $1.2 million toward the project's estimated cost of $11.7 million.
Currently, Core Technology leases 19,000 square feet in High Point, N.C., employs 25 and operates five injection molding machines of 110-400 tons including four Sumitomos and one Milacron Roboshot.
"We may be adding equipment," Foster said.
In the automotive market, Core Technology is a Tier 1 supplier since 2015 to the BMW Manufacturing Co. LLC vehicle assembly plant in Greer, S.C., in Spartanburg County. The components are for the X3 and X5 sport-utility-vehicle models.
"We started in Spartanburg, but in the last year we began shipping to BMW plants in Germany, China, Russia and South Africa," Foster said.
In the gaming industry, Core is molding two-material components including performance thumbsticks on its 110-ton Roboshot press for device developer KontrolFreek LLC of Atlanta. The end devices include Sony Interactive Entertainment's PlayStation 4, Microsoft Corp.'s Xbox One and Nintendo Co. Ltd.'s self-named video game.
At its present location, Core Technology utilizes two modular clean rooms, each occupying about 1,000 square feet with one certified under Class 10,000 and the other under Class 1000. "We can move those, and we will build another clean room" in part to fulfill customer requirements from Merck & Co. Inc. of Kenilworth, N.J., Foster said.
Other customers include Altria, Parker Hannifin, Newell Rubbermaid and Husqvarna.
Core's current facility is certified both under the standard for ISO 9001:2015 quality management systems and through an affiliate of the National Minority Supplier Development Council Inc.
The building project is seen as strengthening Core's longstanding relationship with North Carolina A&T, Foster's alma mater and the school where he has taught for more than a decade as an adjunct professor in the applied engineering department. Core hires North Carolina A&T students for internships and permanent employments and provides mentorship services.
Foster said Core Technology had 2016 sales "under $10 million, and we are seeing double-digit growth this year."
The university collaborative plans to break ground for the new facility in late July or early August.