With a $5 million investment, Midstates Group is hoping that along with new equipment, it is able to strengthen its workforce and benefit the community.
Midstates, a commercial printing company, is using the money to expand it capabilities and create new automations.
“We’re replacing some aging equipment with new stuff and then modernizing some of the existing stuff with rebuilds to set us up for the next probably 10 to 15 years here,” owner and CEO Matt Feickert said.
The new equipment includes a web press, a perfect binder, saddle-stitching, spiral-binding, digital printing and more.
It’s not the first time that Midstates has made a substantial investment. In 2011 it spent between $3.5 million and $4 million on a building expansion and new equipment, Feickert said.
The $5 million will not go to another expansion. Instead, Feickert and his team are hoping that it will create new opportunities They are looking to add anywhere from five to 10 new staff members to the current workforce of about 200 employees.
“My brother and I are committed to set ourselves up for the future or at least the near-term future here,” Feickert said. “We think we got an opportunity with the market and the timing of things right now to kind of position ourselves well, and that’s what we’re going to do.”
He is hoping that Midstates is able to grow sales anywhere from 5% to 10% a year.