Proto Labs, Inc. Acquires New Building
Newly acquired building will accommodate expansion for Proto Labs' rapidly growing custom parts making business
MAPLE PLAIN, Minn.--(BUSINESS WIRE)-- Proto Labs, Inc. (NYS: PRLB) , a leading online and technology-enabled quick-turn manufacturer, has announced today that it has purchased the Plymouth Industrial Building at 2600 Niagara Lane, Plymouth, MN.
This new manufacturing location will add an additional 175,000 square feet of manufacturing space to accommodate Proto Labs' rapidly growing Protomold service, which provides quick-turn injection molding and its Firstcut service, which provides quick turn CNC machining.
Proto Labs intends to invest upwards of $15 million dollars to acquire, clean-up and rehabilitate the building, and to build out the interior infrastructure to accommodate its operation. The building is expected to be operational in the Spring of 2014 and when fully utilized, will employ up to 350 people.
"Proto Labs new Plymouth building will be our fifth building at three different locations in the Twin Cities area," said President and CEO Brad Cleveland. "Proto Labs multi-million dollar investment in acquiring and rehabilitating this property in Plymouth will help facilitate the continued successful growth of our business."
About Proto Labs, Inc.
Proto Labs, Inc. is a leading online and technology-enabled quick-turn manufacturer of custom parts for prototyping and short-run production. Proto Labs provides "Real Parts, Really Fast" to product developers worldwide. Proto Labs utilizes computer numerical control (CNC) machining and injection molding to manufacture custom parts for our customers. For more information, visit www.protolabs.com.
KEYWORDS: United States North America Minnesota
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