Tekni-Plex, a Pennsylvania based plastics company, is looking to strengthen its presence in Ohio. The company does its global development and research in northwest Ohio. It is reviewing plans to add 32,000 square feet of production space to its existing R&D lab in Springfield Township. This expansion would create 25 additional jobs.
According to local economic development officials, the company is yet to make any official decision regarding the project. But news released in March from Tekni-Plex indicated that the company wants to go ahead with the expansion.
Recently, a $4.5 million financing package was approved by the Toledo-Lucas County Port Authority through the port’s bond fund. The package would cover the cost of expansion and pay off the mortgage on the company’s present building.
Tekni-Plex Invests $4.5 Million Towards the Expansion
According to Paul Toth, the Port Authority’s President and CEO, under the agreement, the authority would take possession of the building and lease it back to Tekni-Plex for at least 15 years.
Tekni manufactures a variety of packaging products for pharmaceutical, food and consumer goods as well as high-precision medical tubing used to deliver intravenous fluid and medication. The company is a leading producer of packing for over-the-counter medicine and claims to be the nation’s top supplier of foam egg packages. In 2011, Tekniopened its Springfield Township facility at 1445 Timberworld Dr.
Mr. Toth said that Tekni-Plex is very high-tech company and they’re considering bringing production to northwest Ohio. With the proposed expansion, the company’s building would become double of its present size. Mr. Toth also said that according to the timeline that Tekni-Plex shared with them, it seemed that they want to start the construction as soon as possible.
In the month of March, Tekni-Plex announced a new line of barrier films for medical and pharmaceutical device packaging. The company said it planned to manufacture the materials in Springfield Township.
According to David Andrulonis, V.P and General Manager of flexible packaging at Tekni-Plex, merging the latest technology with their global footprint will help the company generate a seamless supply source for both its multinational and regional pharmaceutical customers.