Octex Lays Foundation for Major Expansion in 2012 with
23 New Hires and New Facility
Company Poised for Continued Growth with 2011 Sales of $19 Million, a
36 Percent Increase
Sarasota, Florida – December 1, 2011 – Octex, a premier manufacturer of precision injection-molded plastic components for the medical, electronic, industrial and consumer products industries, is ending the year in a strong position for growth in 2012, with construction of its new facility underway, 23 new employees on board and 2011 sales of $19 million, a 36 percent increase over the previous year.
In September, Octex broke ground on a 26,000-square-foot expansion to its production facility at 901 Sarasota Center Boulevard. The $5.5 million expansion, funded in part by a $200,000 development grant from the Economic Development Corporation of Sarasota County, will increase the company’s production facility to 59,000 square feet in total, and includes a Class 8 clean room and quality assurance laboratory. Construction is expected to be completed in March 2012.
“We are experiencing a great deal of demand from new and existing customers,” said Jim Westman, owner of Octex. “The expansion of our facility ensures that we will be able to meet our customers’ needs. BB&T Bank and the Economic Development Corporation of Sarasota County have been extremely valuable partners in bringing this project to fruition.”
The company has hired 23 new employees in the past year, and plans to hire 20 more in 2012, with a total of 80 new hires on board by 2016. DooleyMack Constructors of Sarasota, The Schimberg Group and A&M Engineering are the local contractors providing engineering and construction expertise for the Octex expansion.
Octex is a premier manufacturer of precision injection-molded plastic components for the medical, electronic, industrial and consumer products industries. Founded in 1990, the company was purchased by Jim Westman in 2009. Since 2008, Octex sales have increased from $7.8 million to $19 million this year. For more information, visit OctexLLC.com.
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