Brisbane labels and packaging manufacturer Signet has invested $7 million to expand its factory space and make room for a giant Italian plastic extrusion machine that will produce packaging previously imported from Asia.
CEO Jack Winson says the lower Australian dollar was a major factor in the company's decision to reassess its polyethylene manufacturing operation and bring some of the manufacturing back to Australia.
The 47-year old family business last year opened a new factory at Wakerley in Brisbane's southeast - which will house the new 17-metre, six-storey high Italian-made Macchi machine.
The $2.5 million polyethylene blown film extruder can produce 15 tonnes of plastic wrap daily - including plastic bags, wrapping, and a range of agricultural films - and allow the company to increase its production from 1700 to 5000 tonnes a year for the packaging and agricultural industries.
Signet, which employs 300 people, turns over about $150 million a year producing inks, aerosol paints, signs, packaging, labels and plastic film.
Signet has contracts with major retailers including Woolworths and Metcash, and distributes a number of leading industrial brands including 3M, Ansell, Sealed Air, Bolle, Kimberly Clark, Tork, Reflex, insignia and Polycell.