Color concentrates maker Peacock Colors Inc. will install a new extrusion line in January and hopes to be in a new Chicago-area location by 2020.
In a recent interview in Chicago, owner Andy Ubhi said that Addison, Ill.-based Peacock needs the new production capacity to handle sales growth. The firm also needs more space than the 25,000 square feet it has in Addison, he added.
Peacock's sales are up 5-10 percent so far in 2018, according to Ubhi, who bought the 93-year-old materials firm in October from owners Cliff Bloom and Greg Cherry. Bloom and Cherry are grandsons of Frank Bloom Sr., who founded the firm as paint and ink maker Rainbow Ink in 1925.
Cherry and Bloom have remained with the firm, with Cherry as sales manager and Bloom in a consulting role.
Peacock employs around 20 in Addison, making color concentrates based on a wide variety of commodity and engineering resins, as well as liquid color, dry color and color beads. The new production line will add 2 million pounds of annual capacity.
In 2018, Peacock has added new color effects, such as pearlescent, granite and stone, Bloom said. The firm also has increased the size of its sales force.
"People are seeing us out on the street now," said Ubhi, who has more than 20 years of plastics experience, including positions with GE Plastics and Kraton Performance Polymers. "Our business has a lot of potential."
Since making the acquisition, Ubhi has invested $100,000 in Peacock for renovations and a lab expansion. Peacock's top end markets include food and packaging, appliances, automotive, caps and closures, two-shot soft touch and consumer products. No current end market accounts for more than 10 percent of Peacock's annual sales.