USA – Paragon Films, a stretch film manufacturer and Rhône private equity company, has announced the commencement of construction work to expand its facility in North Carolina, US.
The beginning of construction was marked by a ceremony held on 26 April at Paragon’s manufacturing plant in Taylorsville, a city in Salt Lake County, Utah.
According to the new expansion plan, the Oklahoma-based company will expand its 70,000ft² warehouse facility to address the emerging demands that Paragon has witnessed over the past five years.
Darin Tang, Paragon CEO said: “This warehouse expansion allows us to significantly increase our plant manufacturing capacity.
“It is our first expansion since purchasing this land and we have plans to expand beyond this in the future. We are excited about what we are doing in Taylorsville as we continue to grow our business.
“We know it’s going to be a group effort for us to accomplish this and we appreciate the support of the county.”
The facility expansion is expected to be completed in February 2024 and will generate an estimated 14 new jobs in Alexander County.
Marty Pennell, Alexander County Board of Commissioners Chairman added: “We are appreciative that you are here in Alexander County. We are thankful for the partnership we have had, and we are glad to see you thriving and moving forward.”
Founded in 1988 and headquartered in Broken Arrow, Oklahoma, Paragon Films is the industry leader for producing technologically advanced stretch films on a platform of sustainability.
From design and formulation to end-user application, Paragon Films focuses on stretch film sustainability at every step.
The result is a “Thinner. Stronger. Greener.” stretch film that provides the most advanced, cost-effective packaging solution to help customers achieve sustainability goals.
Meanwhile, in 2021 the company was acquired by global private equity firm, Rhône in a transaction that would enable Rhone to expand its footprint.
Eytan Tigay and Lucas Flynn, Managing Directors of Rhône, at the time, said: “Through this investment, and in partnership with the Paragon management team, Rhône intends to capitalize on favorable secular macro trends in transit packaging, and the continued adoption of more sustainable product offerings.
“Through our deep sector experience and international network, Rhône is well positioned to support Paragon as the company expands its footprint and continues to invest in product innovations that set the industry standard.”
For all the latest packaging and printing industry news from Africa and the World, subscribe to our NEWSLETTER, follow us on Twitter and LinkedIn, like us on Facebook, and subscribe to our YouTube channel.
