Producer of bio-based elastomer goods, Yulex has declared that it has closed on a private placement worth $15 million organized by Argonaut Private Equity to increase its natural rubber manufacturing capacity.
Yulex has begun construction on the new production facility situated inside the Lone Butte Industrial Park in Chandler, Arizona. The commercial operation of the new production plant is slated to start in the beginning of fiscal 2012. The company will get Enterprise Zone Status and tax benefits, as the new plant constitutes a portion of the Gila River Indian Community.
The new facility will sit on a five-acre site that could be expanded up to 20 acres. It will comprise two huge, clear-span structures measuring 60,000 square feet for production purpose and a building for office staff. Yulex will invest a portion of the amount to develop its commercialization infrastructure by hiring employees in engineering, marketing and product development.
Yulex manufactures resins and natural rubber utilized in the production of goods for the medical, commercial and industrial applications. The company also manufactures cellulosic feedstocks to generate bioenergy for local use.
Source: azomaterials.com, 2011-03-21.