Materials supplier to medical device and pharma OEMs Foster Corp. has broken ground on a new state-of-the-art, 55,780-square-foot manufacturing facility adjacent to its headquarters in Putnam, CT. The expansion is in response to strong growth in demand from those two sectors and comes only a few years after the company opened a new pharmaceutical building for its Delivery Science business.
“Foster’s recent growth has necessitated the new building, as both our compounding and distribution businesses have grown to the point that space would become a limiting factor for Foster if we didn’t make this move,” said CEO and owner Larry Acquarulo. “The new building will not only allow our growth to continue, but it will also allow us to grow in new markets where we haven’t been able to compete in the past, including larger volume medical applications.”
The new facility will house both compounding manufacturing assets and hold inventory for Foster’s growing distribution business, added Acquarulo. “Our plan is to invest heavily to expand our capabilities and our market footprint in the next five to six years.”
The expansion also will bring new jobs to the Putnam, CT area, said Foster Corp.