AirBoss of America pegs $8.8 million for capital projects

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AirBoss of America pegs $8.8 million for capital projects

* d# w% s# C8 M; nThursday, January 26, 2012
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; b/ p+ r" ~& t/ l+ }Newmarket, Ontario, Canada - AirBoss of America has approved immediate capital projects for 2012 totaling $8.8 million. Of this amount, $6.3 million is earmarked for rubber compounding to expand practical capacities and improve efficiencies in anticipation of volume increases planned for the second quarter of the year. The remaining $2.6 million is earmarked for the defense products business mainly to expand R&D capabilities. While significant expenditures are planned for all three compounding facilities in Quebec, Ontario and North Carolina, the largest refurbishment is planned for the Scotland Neck, NC, factory. Some of these improvements will be in place as early as January, while all are scheduled to be completed by June 2012. These changes are necessary to deal with volume demands which could see manufacturing volumes increased by over 20 percent in the coming year. The defense products expenditures include the completion of the new R&D facility in Bromont, Quebec, which will include a state-of-the-art clean room and laboratory.