Techno Plastics Industries pumping $2M into Añasco plant expansion
The Puerto Rico Department of Economic Development is granting the company close to $1 million in support.
Injection molding company Techno Plastics Industries Inc. will expand its operations in Añasco with a private investment of approximately $2 million and support from the Puerto Rico Department of Economic Development and Commerce’s (DDEC, in Spanish) Economic Incentives Fund, agency Secretary Manuel Cidre announced.
The agency is granting the company close to $1 million in support, agency officials said.
The expansion project, which supports various manufacturing sectors, especially medical devices, will include new infrastructure, the acquisition of machinery and equipment, and the creation of 40 jobs.
“The expansion of this purely Puerto Rican company, founded in 1991 … has experienced continuous growth in the industry, both in medical devices and other industries in Puerto Rico, the United States, the Dominican Republic, Mexico, Europe, the United Kingdom and Asia,” Cidre said. “It also supports other industries such as electronics, electrical and food, developing new products and creating new employment opportunities in the western region.”
Techno Plastics employs more than 160 people and molds more than 200 plastic parts for the manufacturing industry.
“We’re happy with this new phase for the company, which has stood out in Puerto Rico for 33 years, serving the medical devices market, among others,” said Roberto Tous, president and one of the founding partners of Techno Plastics. “I’m sure that we will continue to grow through the quality of our products and the excellent customer service that we provide.”
Jorge L. Cabrera-Lázaro, general manager, who will oversee operations starting in January after Tous’ retirement, shared his vision for the company’s growth.
“We are committed to our customers and partners for this company’s growth. These incentives for equipment, infrastructure and new jobs will support us to stay at the forefront and continue providing a quality product and service for our customers,” Cabrera said.
