Upper Illinois River Valley Development Authority

Funded Project Profiles

Company: Plaspros, Inc. (Georgi Holdings Co)

Location: McHenry, Illinois

Amount of Bond: $4,935,000

Interest Rate: Variable

Jobs: 140

Type of Project: Manufacturing

Bond Issued: December 2002

Project Overview

In December of 2002, the Authority issued $4,935,000 in tax-exempt industrial revenue bonds on behalf of Plaspros Inc. for the construction of a new 75,000 sq. ft. plastic injection molding facility in McHenry, IL. They consolidated their Illinois facilities in to one location in McHenry, Illinois. The total project was $5,000,000 and created 140 new jobs. Plaspros, established in 1967 is a custom plastic injection molding company. Presently headquartered in Woodstock, IL the company has an 18,000 sq ft facility in Woodstock, a 12,000 sq ft facility in South Beloit and a 28,500 sq ft facility in Batesville, Mississippi. The company offers value added services and a wide variety of Secondary Operations. The Woodstock facility has 19 molding machines ranging from 85 ton to 725 ton and offers robotic capabilities and computer integrated manufacturing system. The molding processes that affect quality and production are constantly monitored and controlled by a central computer, resulting in increased productivity and improved quality. The engineering tool room is located in the building for tool maintenance and prototype work. The secondary assembly and packaging offers Hot Stamping, Silk Screening, Sonic Welding, Drilling, Tapping, Packaging & Assembly. Plaspros designs and builds specialty machines and fixtures for any or all of the above. The Mississippi facility has 13 molding machines ranging from 50 ton to 500 ton. The company’s major customers include ITW, Kendall Tyco and Staywright. They primarily operate on a national level.

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Company:	Plaspros, Inc. (Georgi Holdings Co)
Location:	McHenry, Illinois
Amount of Bond:	$4,935,000
Interest Rate:	Variable
Jobs:	140
Type of Project:	Manufacturing
Bond Issued:	December 2002
Project Overview
In December of 2002, the Authority issued $4,935,000 in tax-exempt industrial revenue bonds on behalf of Plaspros Inc. for the construction of a new 75,000 sq. ft. plastic injection molding facility in McHenry, IL. They consolidated their Illinois facilities in to one location in McHenry, Illinois. The total project was $5,000,000 and created 140 new jobs. Plaspros, established in 1967 is a custom plastic injection molding company. Presently headquartered in Woodstock, IL the company has an 18,000 sq ft facility in Woodstock, a 12,000 sq ft facility in South Beloit and a 28,500 sq ft facility in Batesville, Mississippi. The company offers value added services and a wide variety of Secondary Operations. The Woodstock facility has 19 molding machines ranging from 85 ton to 725 ton and offers robotic capabilities and computer integrated manufacturing system. The molding processes that affect quality and production are constantly monitored and controlled by a central computer, resulting in increased productivity and improved quality. The engineering tool room is located in the building for tool maintenance and prototype work. The secondary assembly and packaging offers Hot Stamping, Silk Screening, Sonic Welding, Drilling, Tapping, Packaging & Assembly. Plaspros designs and builds specialty machines and fixtures for any or all of the above. The Mississippi facility has 13 molding machines ranging from 50 ton to 500 ton. The company’s major customers include ITW, Kendall Tyco and Staywright. They primarily operate on a national level.