Mar-Bal, Inc., a Chagrin Falls, Ohio-based leader in the thermoset composite industry, completed the purchase of a manufacturing facility in Painesville, Ohio. The company will acquire and renovate the 110,669 square foot facility, which is the largest vacant industrial space in Lake County, by the end of 2017.
According to company officials, “this new plant will be a renaissance for Mar-Bal, Inc. and the composites industry by utilizing best in class automation and manufacturing processes in BMC compounding and injection molding.”
Mar-Bal provides engineering design, material formulation, compounding, molding and finishing services to original equipment manufacturers in the appliance, electrical, industrial and transportation industries. In addition, over the past year, Mar-Bal has expanded their business into the automotive and HVAC markets as well. This additional business growth, combined with their continued investments in innovative platforms, required Mar-Bal to invest in additional manufacturing space.
"Serving our customers in a newly renovated facility with best in class technology will provide our people with the tools required to be the global quality leader," stated Scott Balogh, President/CEO of Mar-Bal, Inc.
"This Painesville facility positions us for future growth in our core manufacturing processes and is an important addition to our global manufacturing footprint. Our customers are providing us opportunities to grow our current business and product offerings. Our leaders in sales, marketing and engineering are innovating new applications and developing new materials that will open new markets, which all leads to an expansion. This facility will have the best and safest working conditions in the company, and when completed, will be the best fully integrated BMC compounding and molding plant in the world," added Balogh.
Company officials said Mar-Bal chose Northeast Ohio because of the skilled workforce required to design, build, operate and maintain a complex manufacturing operation. Within five years Mar-Bal will double their workforce and invest approximately $15.0 million. The support of JobsOhio and the City of Painesville made this manufacturing investment possible.
"Northeast Ohio has strength in materials across the entire value chain," said Walt Good, Senior Director, Business Development for Team NEO. "This coupled with our talented workforce, makes our region attractive for plastic injection molding companies."
"The City of Painesville is proud to have the Mar-Bal Corporation, a strong business with quality employment opportunities, join the Painesville Renaissance Industrial Park. The Mar-Bal family will be a long-part of our city's future as one of our newest and largest employers." Cathy Bieterman, City of Painesville Economic Development Director.