Venture Plastics Plans $3M Expansion to Meet Demand
NEWTON FALLS, Ohio – A plastics-injection molding company says it plans to construct a 17,000-square-foot addition to its plant at 4000 Warren Ravenna Road in order to house new, larger equipment that would accommodate its growing order book.
“We’ve secured new business,” said Tim Groff, company founder and asset manager for Venture Plastics Inc. “It’s to produce a large automotive part that requires a large machine.”
Venture Plastics manufactures components for a variety of customers that operate in the automotive, fuel delivery, major appliance, and solar energy industries, Groff said.
According to its website, the company makes electrical connectors, body side moldings, power distribution boxes, ladder components, in-ground fuel storage tank cap assemblies, and vacuum cleaner accessories. The company operates injection-molding presses ranging from 55 ton to 725 ton.
“The addition will house a large molding machine that’s twice as big as anything we have now,” Groff said.
The expansion should cost around $3 million and provide enough room for additional equipment.
“Five percent of the plastics companies in the United States have machines this size,” Groff added.
The new building will also accommodate a 15-ton crane.
That places Venture Plastics in a competitive position going forward, since customers are requesting parts that require larger molding capabilities, Groff said.
Construction of the new building is expected to be completed my mid-November, and the new equipment moved in shortly after. “It should boost employment by 10%,” once the new line is in full production by 2018, Groff said.
The company employs 120, and operates another plant in El Paso, Texas, he said.
Venture Plastics operates on 10 acres in both the Braceville and Newton townships. Newton Falls officials are in discussions with the company about annexing this land into the village.
Groff noted that Venture Plastics already uses the village’s water and sewer services, and annexation would lower those utility costs. Plus, annexation would ensure full-time fire, police, and emergency medical services.
However, the company hasn’t decided whether to request annexation, Groff said.
In August, the Board of Trumbull County Commissioners voted 3-0 to annex 444 acres mostly in Braceville Township near state Route 5 and the Interstate 80 interchange into the city, said Jack Haney, city manager.
“The hotels and motels were all included in this annexation,” he said. “We’re looking to have all of this developed, but it will take some time.”
The Venture Plastics property abuts this land, and would be a perfect fit for the community, Haney added.
“It’s a logical step, and they would be a welcome addition,” he said.
Copyright 2017 The Business Journal, Youngstown, Ohio.
Published by The Business Journal, Youngstown, Ohio.
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