HCP expands Suzhou, China factory.
HCP Packaging says plans to expand its Suzhou facility are well underway as part of a series of investments the company is making after its purchase last year by American private equity firm TPG Capital LP. The addition of approximately 120,000 square feet of manufacturing space will house 50 injection-molding machines and 10 metallization and painting lines.
"The new expansion will not only give us additional space to expand our capacity but also--and perhaps more importantly--will provide more flexibility for HCP to implement various lean manufacturing production, which tends to be more difficult to realize in a traditional [packaging] factory," says Eddy Wu, president and CEO of HCP Packaging.
Wu says the company, which had more than $200 million in sales in 2012, wants to double the size of the business in five years. HCP has grown from $160 million in sales in 2010.