A Louisiana molder will add 85 jobs and double its manufacturing space to accommodate new equipment including a chiller, a 125-foot expanse crane and water cooling equipment.
Ash Industries Inc. of Lafayette, La., plans to invest $5 million in the expansion, it announced July 13. In addition to directly creating 85 jobs — which are expected to pay an average annual salary of $40,600 -- the company will retain its current staff of 67, and state economic development officials estimate the project will create 120 more jobs indirectly.
The company, launched in 1991, does thermoplastic, liquid silicone rubber and metal injection molding, as well as rotational molding, for markets including medical, industrial, defense and electronics. Ash Industries also builds molds and tools and does overmolding, pad and screen printing and hot stamping,
Ash Industries said in a news release that this is the first of three expansion phases, but it did not elaborate. The company did not return calls seeking more information about its growth.
In the past few years, the company has invested $1 million in new equipment, including a 600-ton thermoplastics injection press, according to a video on its website.