HDi Plastics Inc., a subsidiary of Minneapolis-based Hypertension Diagnostics Inc., has signed a development agreement with the Eastland, Texas, Economic Development Inc. (EEDI) agency to build a plastics recycling facility in the Eastland Industrial Park in that city.
The company collects and reprocesses plastic scrap into pellets for sale to manufacturers. The firm expects to construct a 50,000-square-foot facility that could be expandable to 150,000 square feet.
An estimated $4 million will initially be invested in the project, including an estimated $2.9 million in machinery and equipment.
“We have been working on this project for over a year and I believe we are now on the fast track,” says Kenneth Brimmer, HDi’s CEO. “Developing and locating a project such as this is a costly and highly complicated process. We will continue to work with Jerry Conner, EEDI’s executive director, and various State of Texas development agencies to acquire other sources of funding that will be required to make the project viable. We look forward to the construction process and start-up hiring. We estimate first-phase construction could start as early as mid-2013.”
Terry Jones, president of EEDI, comments, “Although EEDI has recently met with several industrial prospects searching for a location, it became obvious during our first meeting that HDi Plastics was the one we wanted in Eastland. HDi will be a wonderful anchor facility in our newly developed 92-acre industrial park.”