Summit Plastics Inc., a film and bag maker in Mississippi, is spending $5.4 million on an expansion project creating 25 jobs.
The Summit, Miss.-based company makes custom plastic film and sheet products and currently has more than 110 workers, up from 52 workers in 2015 when Tom Nathanson purchased the company.
Announcement of the new project continues the growth of the company in recent years.
In this latest move, the company will build a 12,000-square-foot addition to its current 98,000 square feet. The added space will allow installation of three blown film lines, including at least one being a multilayer line, according to the Mississippi Development Authority.
Over time, Summit Plastics has increased annual production from 20 million pounds to 40 million pounds. The plan is to now increase that total to 85 million pounds during the next four years.
Along with helping with building construction, MDA also certified Summit Plastics for the state's Advantage Jobs Incentive Program that helps businesses creating jobs exceeding the average annual state or county wage.
"Once again, the state, Pike County and the town of Summit have stepped up to help our business continue to grow and provide good-paying jobs with excellent benefits to the great people of Mississippi. Mississippi clearly is one of the best business environments in the entire United States," Nathanson, the company's CEO, said in a statement.
The expansion work is slated to be finished by March.
"Summit Plastics has been a great corporate citizen for nearly three decades," Summit Mayor Percy Robinson said in a statement. Summit Plastics started production in 1994.
The multimillion-dollar project comes about a year after LongueVue Capital, a private equity firm based in New Orleans, invested in the company. In January, LongueVue said it would provide capital to allow Summit Plastics to expand both its product offerings and national footprint.
Summit makes one-, three- and five-layer low and linear low density polyethylene film and bags for food and beverage, health care and industrial markets.
Summit ranks No. 109 in the current Plastics News survey of North American film and sheet manufacturers, with estimated sales of $38 million and 13 extrusion lines.