The Sherman Economic Development Corp. presented Presco Polymers with a $47,500 incentive check for equipment improvements at its Sherman facility Thursday afternoon. The economic developer held a small ribbon-cutting ceremony to present the check and mark the installation of the new equipment.
The company, which produces marking tapes and related products, recently invested nearly $1 million in new equipment that will allow it to do finer, smaller cuts in its materials and create specialized tape products.
“In essence, it takes a larger roll of film and makes it into a smaller roll of film,” Presco Vice President of Engineering Paul Manley said.
The equipment that is being replaced is over 40 years old, but has limitations in the quality of the cut it can make, Manley said. The machinery also had safety features that were out of date and required upgrades to modernize it.
“Our change in market demand called for a much higher quality, smaller roll,” Manley said.
The new equipment could lead to an increase in staffing for the Sherman-based company, but Manley said the biggest impact will likely come to the workers’ skill sets. The new equipment will require more proficiency with modern technology that could lead to higher pay.
Manly said the company invested nearly $967,000 in capital improvements, with most of it going toward the new machine. Other small projects included in the investment were directly tied to the larger machine, he said.
SEDCO Board Chair Brad Douglass said he was impressed by the work Presco does in Sherman and hopes that the new machinery will help it maintain strong business in the city.
“It was mind boggling how many of those tiny market flags they make in a year,” he said. “SEDCO was very pleased with the capital investment that strengthened a local business, kept jobs in Sherman and contributed to the local economy.”