Oklahoma stretch film maker Paragon Films Inc. is adding 70,000 square feet of warehouse space and new extrusion lines to its plant in Taylorsville, N.C.
"This investment has resulted in substantial market share gains, continuous volume growth through multiple market cycles, and exceptional returns on invested capital," Tim Moar, senior vice president of marketing and operations, said May 12 via email.
The warehouse will be a separate structure near the company's 180,000-square-foot plant and will free-up space for several new extrusion lines Paragon has ordered.
"This warehouse expansion allows us to significantly increase our plant manufacturing capacity," Paragon CEO and President Darin Tang said in a May 11 news release announcing the growth.
The project will create 14 jobs in the area and officials expect to complete the work by February.
Paragon has two other plants, one at its headquarters in Broken Arrow, Okla., and one in Union Gap, Wash. The company makes polyethylene cast stretch film to wrap pallets.
Paragon ranked No. 32 in Plastics News' ranking of North American film makers, with 2022 sales of $285.7 million, about 340 employees and 18 extrusion lines.
The company is owned by Rhône Group LLC in New York. The private equity group bought Paragon in 2021 from Wellspring Capital Management LLC., also of New York. Previously it was owned by Wind Point Partners of Chicago until 2019.
Paragon was founded in 1988.