Paper and film-based pressure sensitive tapes manufacturer Intertape Polymer is set to invest $26m to relocate and modernize its Columbia, South Carolina manufacturing operations.
According to the company, the new facility will house manufacturing equipment which will allow it to realize productivity gains and benefit from enhanced environmental controls.
Expected to occur over a two year period, the relocation process and subsequent shutdown of the existing Columbia facility will be completed in the first half of 2015.
Intertape president and CEO Gregory Yull said the company expects annual productivity gains and energy savings of more than $13m starting in the first half of 2015 with the first full year effects to be realized in 2016.
"The new facility will also allow us to enhance our position in a highly competitive industry," Yull said.
As a result of relocation, a charge of $28-$32m is expected to be recorded in the first quarter of 2013 with regard to impairment of property, plant and equipment.
