French plastics processor STI Plastics (Beauvoir en Royans) has announced that the first of two new production facilities will go online by late 2014 to meet growing demand for its development and molding services. The expansion is necessary to supply STI's current customers in the refillable e-cigarette and pharmaceutical and medical device sectors, according to French newspaper Le Dauphine Libéré. The company has also benefited from climbing exports of cleanroom injection molded products for the North American market.
The initial 2000-m² facility dedicated to production and logistics, representing a €2 million investment ($2.7 million), is expected to be up and running by December 2014 at nearby industrial estate Echavagnes in Saint-Marcellin. Prior to that, STI Plastics will install an ISO Class 7 cleanroom at its Beauvoir facility. Further expansion will follow, says CEO Jérôme Emperor.
The company had a banner year in 2013, with a 20% year-on-year increase in revenue, from €12.4 million to €16 million ($17.2 to $22.2 million), according to industry publication L'Usine Nouvelle. It expects to double revenue to €23 million ($32 million) by 2017.
STI Plastics has a 20-year history of designing, developing, and molding technical plastic parts, largely for the pharmaceutical and medical device sectors. Most products are manufactured in cleanroom environments. The company maintains a production site in China to manufacture tooling and equipment and a facility in Tunisia to provide fitting, assembly, marking, and packaging services.