Sun Hydraulics Corp., a designer and manufacturer of high performance screw-in hydraulic cartridge valves and manifolds for worldwide industrial and mobile markets, announced on Jan. 23 that it will build a third property in Florida.
The new facility, near the Sarasota-Bradenton International Airport will have 60,000 square feet of manufacturing and 16,000 square feet of office space to create capacity for future growth.
The total investment, including the completed infrastructure utility building and site work, is estimated to be approximately $16 million.
"Our long-term goal is to continue to grow both our top and bottom lines by providing quality products with premium service levels," said Allen Carlson, Sun Hydraulics CEO. "To ship increasing volume, we will rely on continued efficiency and productivity gains, but eventually will need to add capacity. We know where we will build the new facility and generally what it will look like. By completing site preparation work now, we put ourselves in position to begin construction, when we are ready, without delay, but no decision has been made regarding the timing of the start of the construction phase."
Continuing, Carlson added, "We have long anticipated that we would eventually need additional capacity and began acquiring land as far back as 1996, the time of our last expansion. We expect our 2011 financial results to be strong, achieving record levels on both the top and bottom line. The global macroeconomic indicators remain positive and we believe this is a good time to add infrastructure."