Verstraete IML (Maldegem, Belgium), a global manufacturer and supplier of in-mold labels, has plans to maintain its leading position in the market. CEO Koen Verstraete announced that the company is investing in people, machines, technology, and infrastructure.
Verstraete notes that the company is currently running at "maximum capacity" and needed to expand operations to keep up with demand in the fast-growing in-mold labeling industry.
The company will be adding three new printing presses scheduled to be running by March 2015, representing a 20% increase in production capacity. One of these is a UVC press: a new technology that will extend the company's reach. "We currently meet 80% of our customers' requirements," commented Verstraete. "As the number one supplier, our goal is 90%. This will be possible with the innovative UV technology, because it can be used for high-gloss labels and reverse printing (printing on the back of the label). In this way we can serve two new markets in one stroke."
To accommodate these new printing presses, Verstraete is expanding its infrastructure by adding 2,400 square meters of production space in a new building at the company's Maldegem site. The ground floor will become additional production space and the first floor will provide room for more offices. The infrastructure expansion will enable Verstratete to achieve its growth plan. The new facility is scheduled to be in use by January 2016.
In addition, the company has also invested in the talent of people this year by adding 70 new positions, growing the staff at all levels of the company. Ten positions are still open.
Verstraete added that the company expects to grow from its current sales level of 100 million euros annually to 180 million euros in 2020. "We aim to offer our customers the best service," Verstraete said. "We also want to be able to react quickly and we strive for a delivery period of two to three weeks."