A Norwalk manufacturing company with annual revenues around $5 million is moving its operation to Stratford where it plans to expand business and add new hires.
Penmar Industries -- a tape, label and packaging materials maker since 1964 -- has purchased the 14,000-square-foot industrial building at 35 Ontario St. (see map in photo gallery) for $850,000.
Penmar plans to reboot operations at the now-vacant property in early December, according to Karen Kaiser, Stratford's director of economic development.
"He's been looking at Stratford for some time," Kaiser said of Penmar President Ed Rodriguez. "He's moving from Norwalk because he's expanding."
Kaiser said Rodriguez is looking to hire two people immediately.
"We have new industry in town [and added] revenue to the tax base," she said.
This article has been updated with the following comments from Penmar President Ed Rodriguez.
Penmar's annual revenues are around $5 million, Rodriguez confirmed Thursday.
Rodriguez also confirmed Kaiser's comments that he plans to hire two new people immediately and possibly more down the road. He said he'll be looking for sales and marketing personnel, then operators. Currently he has 15 employees.
Rodriguez said he and his team executed an exhaustive search of facilities in Fairfield County and the layout, size and location of the Ontario Street building best suited the company's needs for expansion.
He said the size of the Norwalk location is about 3,000 square feet smaller than that of the Stratford property.
"We have always been a stable manufacturing company," Rodriguez said. "We hope to [further] prosper in the Stratford business community."