Foster Corporation, driven by strong growth in the medical and pharmaceutical market sectors, has broken ground on a new manufacturing facility.
PUTNAM, CT USA – (June 18, 2019) – Foster Corporation, a leader in polymer material
solutions for the medical and pharmaceutical markets, has seen its business flourish in the last few years.
As a result of this growth, Foster has broken ground on a new state-of-the-art 55,780 ft2 (5,182 m2) manufacturing facility that is adjacent to its headquarters in Putnam, CT. This new expansion comes only a few years after Foster opened a new pharmaceutical building for its “Delivery Science” business.
According to Larry Acquarulo, Foster CEO and owner, “Fosters recent growth has necessitated the new building as both our compounding and distribution businesses have grown to the point that space would become a limiting factor for Foster if we didnt make this move. The new building will not only allow our growth to continue, but it will also allow us to grow in new markets where we havent been able to compete in the past, including larger volume medical applications.”
Acquarulo continued, “The new facility will house both compounding manufacturing assets and as well as hold inventory for our growing distribution business and our plan is to invest heavily to expand our capabilities, and our market footprint in next 5 to 6 years.”
In addition to benefitting the company, the expansion will also bring new jobs to the Putnam, CT area as Foster plans to continue on its growth path into the future. “We are happy with what we have been able to accomplish with cooperation between the area leaders and Foster and will continue to work with area leaders to add jobs as we grow. Its been a good partnership,” said Acquarulo.