Penn Compression Expands Raleigh-Area Footprint
The manufacturer intends to invest $3 million in expanding the company’s Smithfield, N.C., operations by 30,000 square feet of space.
By Laura Calugar
Penn Compression Molding’s facility in Smithfield, N.C.
Penn Compression Molding Inc., a national manufacturer of custom molding thermoset composites, will add another 30,000 square feet of production space to the company’s plant in Smithfield, N.C. The firm’s $3 million expansion will result in the addition of 40 new jobs for Johnston County.
Located at 309 Components Drive, the facility is just off Interstate 95 and provides easy access to Raleigh. Founded in 1969, Penn Compression Molding has top global customers such as GE, Black & Decker, Eaton, ABB and Siemens. The company operates facilities in Smithfield and Irwin, Pa., near Pittsburgh, employing a total workforce of 120.
“We are very appreciative of the support and partnership between our company, Johnston County and the town of Smithfield. This partnership is what attracted us to this area in 1978 and we are committed in seeing this growth continue into the future,” said Penn Compression President & CEO Daniel Leslie, in a prepared statement.
The Raleigh-Durham area continues to appeal to investors. Last year, Strategic Capital announced plans to invest $60 million in Patriot Park, an industrial business park that will eventually total nearly one million square feet of commercial space.
Image via Google Street View
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