Film and sheet manufacturer Raven Industries Inc. is expanding its operation to the U.S. Eastern seaboard, opening a facility in Waynesboro, Va.
The Nasdaq-listed company announced Jan. 2 that it is setting up the factory to custom fabricate materials and warehouse products on the East Coast.
The Sioux Falls, S.D.-based company said the Virginia plant would help grow its engineered films division and a new unit launched in October, Raven Composites.
It said the plant would start with five employees in early 2020 and expand based on demand.
"Having a presence on the East Coast will allow us to respond more efficiently to the needs of our customers," said Anthony Schmidt, vice president and general manager of Raven Engineered Films, in a statement.
The company's film and sheet unit has seven factories around the U.S., employing 496, with estimated 2019 fiscal year sales of $227 million, according to a Plastics News estimate. It placed 33rd in the 2019 Plastics News ranking of North American film and sheet makers.
The composites unit, which is part of the film division and will make rigid composites, was one of two growth initiatives the company unveiled in October.
