WINONA, MINN., USA — PlastiComp Inc. has increased production capacity with the installation of a new long fiber thermoplastic (LFT) compounding line. The new line will increase capacity approximately five million pounds per year.
PlastiComp acquired a new site for their headquarters in 2011. The acquired building of 75,000 square feet was subsequently expanded to approximately 85,000 square feet. Additionally, the building is undergoing modifications to add a new carbon fiber dedicated production line for both LFT pellets and UD (unidirectional) tapes. The original headquarters and LFT manufacturing site of 30,000 square feet continues in operation.
“Since the beginning of 2011, our sales have nearly tripled and the view ahead is even more robust,” stated Steve Bowen, PlastiComp President and CEO. “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 significant part of our growth strategy is development contracts with select industry leading companies to grow composite parts in new markets and new applications. We have interesting growth plans in medical markets, energy markets, and sporting goods applications. Our focus is new applications/new market space. We have little interest in pursuing share shift growth from competitors in LFT pellet sales. We want our customers to improve their products and their profits with singularly unique and best in class compounds and technology from PlastiComp.” said Bowen.
PlastiComp was founded in 2003 and is a technology company creating new markets for fiber reinforced composite materials by integrating the science of material composition, process parameters and part design.
Deploying a partnership philosophy combined with a fully integrated approach to application development, PlastiComp focuses its expertise on moving innovative long fiber reinforced thermoplastic composite technology into new markets and applications by applying long fiber’s stronger, tougher, and lighter capabilities to make products better. Ready to process Complēt® composite pellets for injection molding provide made to order performance by incorporating long carbon, glass, or specialty fibers with thermoplastic polymers ranging from polypropylene to PEEK for application specific structural material solutions.