Plastic injection moulder Prism Plastics Inc is investing US$3.5 million for additional machinery at its plants in Chesterfield Township and Harlingen, Texas.
Moreover, the company is adding 929 sq m space to its 2,415 sq m Chesterfield Township plant and headquarters, apart from installing four new Toshiba Electric moulding presses by July.. Of the total investment, US$2.5 million will be spent in Michigan.
In 2013, Prism had invested US$2 million in additional capacity at the two plants, to increase capacity by 20%. Its plastic parts are used in seat belts, air bags, fuel components and brake systems. That year, Prism generated US$24 million revenue, increasing to more than US$30 million the following year. It expects to surpass its US$100 million target by 2020.
(IMA)
