Manufacturer to invest up to $49M in new facility

SARASOTA — Intertape Polymer Group Inc. is investing between $44 million and $49 million in the construction of a new manufacturing facility in the Southeast United States, according to a release.

An exact location has not been determined for the facility, which will help the company, with dual headquarters in Sarasota and Montreal, “enhance our position in the market and better serve our customers,” President and CEO Gregory Yull says in the release.

This year, Intertape Polymer Group will spend between $31 million and $36 million on the construction. The facility is expected to be operational by the end of 2017, the statement says.

Intertape Polymer Group Inc. manufactures and sells paper and film-based tapes. The publicly traded company (symbol: ITP; recent price: $16.18) has about 2,000 employees and 17 locations.