PlastiComp in Minnesota have increased production capacity with the installation of a new long fibre thermoplastic (LFT) compounding line. The new line will increase capacity approximately five million pounds per year.
PlastiComp acquired a new site for their headquarters back in 2011, this was expanded to around 85,000 square feet with further modifications underway to add a new carbon fibre production line for both LFT pellets and unidirectional tapes.
Steve Bowen, PlastiComp President and CEO said;
Since the beginning of 2011, our sales have nearly tripled and the view ahead is even more robust, plastiComp primarily sells LFT pellets, but we also sell LFT technology. To date we have nine LFT lines installed in other companies under license from PlastiComp. Including our own production lines and new lines planned yet in 2013, that number will increase to 17 during 2013.
Another important part of the company’s growth strategy is development contracts with selected companies to grow composite parts in new markets and new applications. PlastiComp have interesting growth plans in medical markets, energy markets, and sporting goods applications.