ARDEN HILLS, Minn.—IntriCon Corporation has signed a 5-year lease securing 30,000 square feet of additional manufacturing floor space near its current Arden Hills facility. The added capacity will help the company meet rising demand in its medical business, which grew 39.2 percent in 2017, the company reported in a press release.
IntriCon (www.intricon.com), headquartered in Arden Hills, Minnesota, is a designer, developer, manufacturer, and distributor of miniature and micro-miniature body-worn devices. The company said that these advanced products help medical, health care, and professional communications companies meet the rising demand for smaller, more intelligent, and better connected devices.
“The expansion of our medical business, which we expect will continue, warrants this type of investment to fuel the company’s next wave of growth,” said Mark S. Gorder, president and chief executive officer of IntriCon, in the release. “The additional space and equipment will enable us to meet rising demand in the near term. The lease also provides for square footage expansion options to meet longer-term anticipated demand increases. We expect to be fully operational in our new facility by mid-2018.”
Key medical customers have invested, or made commitments to invest, more than $4.5 million in capital equipment over the last several months. These capital commitments, as well as anticipated future customer commitments, helped drive the manufacturing expansion, the company said.
The additional 30,000 square feet increases IntriCon’s U.S. manufacturing footprint by 30 percent, and will accommodate robotic assembly of medical components and systems. In conjunction with the added space, the company also is increasing its molding capacity. During the 2017 fourth quarter, IntriCon added six molding presses, and the company has an additional nine molding presses slated for delivery throughout 2018.
“In addition to meeting current needs, our new space will allow us to aggressively pursue opportunities with other medical customers that value our robotics, automation, and value-added assembly competencies in the micro-miniature medical device space,” said Gorder. “With the expansion, we also expect to add up to 150 jobs in Minnesota during the first half of 2018—a benefit to both the company and local economy.”