NORTH KINGSTOWN – Toray Plastics (America) Inc. has invested roughly $15 million to expand its North Kingstown facility and install new coating equipment in order to meet the customer demand for “value-added films with advanced specialty layers,” said a company release.
A Toray Plastics spokesperson told Providence Business News that the expansion has already created 12 new jobs, adding that the company expects the number to rise to 20 within the year.
“Our objective has always been to provide value to our customers so they are free to focus on their core competencies and grow their business,” Paul Knollmeyer, corporate marketing manager for Toray Plastics, said in prepared remarks. “We’re very excited to be able to provide them with the kind of advanced technology they have requested.”
In the release, Knollmeyer added that the capital investment presents his company with the opportunity to further expand research and development into new and more advanced film technologies.
On its website, Toray Plastics claims to have invested more than $650 million in its American operations in the last 20 years. Toray’s manufacturing investment capitalizes on growing demand for packaging films with coatings and properties tailored to client specifications, according to the company.
To commemorate its equipment receipt, due to be operational in 2013’s second quarter, the company has invited Toray executives, local lawmakers and “dignitaries” to a planned May 2 ribbon cutting at its Quonset Business Park location.
Rhode Island’s Toray Films Division campus is devoted to the producing various plastics and films for food packaging, plastic recording tape and other industrial markets, according to its website. Toray America is a subsidiary of Toray Industries Inc. headquartered in Tokyo.