Grand Traverse Plastics Corp. plans to invest $11.5 million to expand its electric vehicle operations and add as many as 43 jobs.
The Tier 1 and 2 automotive supplier in Williamsburg, Mich., said it recently won new EV business. GTP injection molds under-the-hood components for engines, transmissions and batteries, as well as parts for materials-handling conveyors and industrial markets such as heavy trucks, marine, HVAC and appliances.
"Our plan is to complete the expansion over the next 18 months, reaching our full anticipated run rate of both employees and business within a three-year period," GTP Chairman David Eberly said in a late-August interview via email.
With some enhancements, the company's three-plant campus will accommodate the new work.
"The additional 25,000 square feet of manufacturing space will be added onto Plant 2 only, however, it is part of a larger strategic plan by GTP to add both capacity and capability throughout our campus," Eberly said.
"In fact, it will occur on the heels of our recently completed renovation of Plant 3, which added lights-out, precision molding capabilities [operating presses with maximum clamping force of 300 tons], complementing the medium- and large-tonnage molding we have historically used."
The expansion will include extended high bays and shipping docks.
According to GTP's website, the company has total annual sales of $35 million, all from injection molding, and employs 130. A year ago, GTP reported it had 23 injection presses. Eberly declined to disclose the current number of machines, but did say GTP is negotiating to buy more presses for the new work.
As part of the expansion, GTP will receive a $430,000 performance-based grant from the Michigan Business Development Program. Eberly said GTP is developing an apprentice program with the state and works with Northwestern Michigan College to educate and train employees in injection molding and mold building.
GTP was founded 40 years ago and since 2018 has been part of the portfolio of Covington Capital LLC, the private investment arm of Covington Partners LLC. Both Covington companies are based in Troy, Mich., where GTP has its sales and engineering office. Eberly is also chairman of Covington Partners.