Grand Traverse Plastics Announces Expansion
The Northern Michigan automotive injection molder is investing $11.5 million in support of a new electric-vehicle (EV) program.
Grand Traverse Plastics (GTP; Williamsburg, Mich.), a Tier 1 automotive and material handling components supplier is expanding in Whitewater Township, Mich, investing $11.5 million in its facility in support of electric-vehicle (EV) production. Included in that investment, is a $430,000 Michigan Business Development Program performance-based grant. In a press release, Michigan Governor Gretchen Whitmer said Northern Michigan beat out a competitive bid from a site in the Southeastern U.S. The expansion will create 43 new jobs.
Founded in 1981 in Williamsburg, GTP injection molds engineered, under-the-hood plastic components for battery systems, engines, and transmissions, as well as conveyor system components. GTP has recently been awarded new business related to electric vehicles and plans to expand at its existing facility in Whitewater Township, where it will add extended high bays, shipping docks and manufacturing space.
The company currently has 130 employees and 28 injection molding machines spread across three plants that generate $35 million in annual revenue. The company was acquired by the private equity firm Covington Capital (Troy, Mich.) in 2018.
The Michigan Economic Development Corp. (MEDC), which aided the process, said in the release that this project aligns with its strategic goal of growing EV production in the state, as well as its Industry 4.0 initiative launched at the end of last year. That plan has the strategic goal of ensuring 50 percent of Michigan’s small and mid-sized manufacturers are prepared to adopt Industry 4.0 technologies by 2025.
Grand Traverse Plastics was awarded a grant from the state of Michigan to supports its newly announced expansion plans.
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