Injection molder Prism Plastics is investing $3.5 million to add seven new electric presses at its facilities in Chesterfield Township, MI, and Harlingen, TX. Prism will also add 10,000 square feet of space in Chesterfield, bringing the total there to 36,000 square feet. This expansion will increase Prism's production capacity for tight-tolerance, safety-critical plastic components for the automotive industry. All new equipment will be in place by July, bringing Prism to 35 total presses.
"We're always pleased to see growth driven by the automotive industry's success, as well as from both new and existing customers," said Gerry Phillips, Vice President. "Our modular approach to equipment and technology means that we can always scale up quickly to meet growing demand."
The seven new presses—four in Chesterfield and three in Harlingen—are all Toshiba electrics, ranging from 84 to 310 tons. The investment also includes accompanying Yushin 5-axis robots, SRS low-RPM screenless grinders and automated packaging systems.
Chesterfield, the third plant for Prism and the company's headquarters, was opened in 2012 and is ISO/TS 16949:2000 certified. The Harlingen facility is 30,000 square feet and is also ISO/TS 16949:2009 certified. Located on the Mexico border near Reynosa, Mexico, the Harlingen plant supports customers with Mexico-based manufacturing. Prism also operates a 14,700-square-foot plant in Port Huron, MI, that specializes in processing high-heat engineering thermoplastics.
The company brought in more than $30 million in revenue in 2014, up from $24 million in 2013 and $5 million in 2009. Prism projects more than $100 million in revenue by 2020. It ships more than half-a-billion parts annually from its three facilities.