Manufacturer targets $1.5B in revenue

SARASOTA — Intertape Polymer Group Inc. is planning to nearly double its revenue within seven years.

The manufacturer, which had $781.9 million in revenues in 2015, wants to reach $1.5 billion in the next five to seven years, according to a statement. The company announced this goal on Tuesday during its investor day at its new $60 million Blythewood, S.C. facility.

With those revenue goals, Intertape Polymer Group is also shooting for at least a 15% adjusted EBITDA margin, the statement says. The company's EBITDA (earnings before interest, taxes, depreciation and amortization) in 2015 was $102 million, giving it an adjusted margin of about 13%, according to data from its annual report.

Intertape Polymer Group Inc. manufactures and sells paper and film-based tapes. The publicly traded company (symbol: ITP; recent price: $20.08, has about 2,000 employees and 17 locations. It has dual headquarters in Sarasota and Montreal.