Oconomowoc–based Premold Corp. expects to hire four or five factory employees in 2015 in addition to spending around $500,000 on new equipment to improve operational efficiencies, according to president Ken Schweitz.
Those plans follow the reaction injection molding supplier’s approximate $1.7 million expansion last year that more than doubled its factory size from 30,000 square feet to 68,000 square feet.
“We were running out of space due to growth,” Schweitz said. “We have more customers, and we’re moving larger volumes of product through our factory.”
Since its expansion last year, Premold spent a couple hundred thousand dollars on new equipment. The company also over the last year to 18 months hired five or six employees bringing its total number of employees to 58.
According to Schweitz, Premold has been growing on average 15 percent a year. He expects the company to continue on that pace in 2015.
The growth is due, he said, to the company’s marketing efforts, good retention of customers and an increase in demand for medical and laboratory equipment.