Aurora, Ontario-based Axiom Group is investing $12 million in a new 80,000-square-foot building next to its existing facility in Mexico.
"APG Mexico was our first expansion into the Mexico market back in 2017, so expanding this facility is certainly another milestone event in our operational history," Max Preston, director of marketing and communications at Axiom, told Plastics News in an emailed statement.
Construction of the new building is targeted to be complete by November 2023, Preston said.
Axiom will use the new building as warehouse space for shipments of finished goods and raw materials, creating capacity in the existing plant for more manufacturing, a July 10 news release said.
The investment also includes eight new injection molding machines ranging from 550 to 2,400 tons of clamping force, allowing for the addition of 55 tools and 90 different part numbers to Axiom's existing database.
"2023 has been an incredible, record-setting year of expansion for Axiom and we're thrilled about the next global growth phase of the organization," Preston said. "With this expansion, along with our brand-new facility in Capac, Mich., Axiom has never been in a better position to grow with its customers and help solve the complex challenges facing the industry today."
Axiom also projects that doubling its manufacturing space at the Mexico plant "will also allow for a … doubling of revenue in 2024," the release said.
"Expanding our manufacturing footprint further allows us to provide the best possible service and technical support for our valued clients," Ananth Pathmanathan, vice president of operations Axiom Group, said in the release.
Axiom Group also has manufacturing and engineering centers in Canada, Mexico, and Italy.