While many in the manufacturing industry struggle to gain footing in the current economy, a family-owned company in north central Iowa is experiencing significant growth and is expanding for the future.
Hy-Capacity is investing $2 million in a 30,000 sq. ft. expansion to its current facility and plans to add 10 to 20 more employees when the facility is complete in December.
The building is being designed with the latest environmental stewardship best practices in mind, including integrated geothermal and wind power systems to improve the facilities energy efficiency.
"This expansion represents the growth we have experienced in recent years," says Steve Olson, president. "We are projecting continued growth," he adds. The company currently reports $25 million to $27 million in annual sales and expects to reach $30 million in sales in the next year or so.
The new facility will streamline operations and improve traffic flow in and out of the facility following the company's lean manufacturing facility to maximize efficiency and reduce waste, according to Olson. "Our employees have been committed to reducing waste in our existing facility, and we plan on carrying on that mindset through each phase of expansion.
He notes that thanks to the formation of the Hy-Capacity Green Team, the company has received Zero-Landfill distinction after reducing its waste container from a 40-cubic yard dumpster to one that is just 4 cubic yards.
Hy-Capacity was founded in 1978 as a remanufacturer of clutches, water pumps and torque amplifiers for International Harvester tractors. "We got our start building beefed up torque amplifiers for IH tractors," notes Olson. "We called them high capacity torque amplifiers and that's how our company got its name. It's really all about heavy duty."
Since then the company has expanded its product lines to include parts for all makes and models of ag machines and now manufactures new parts in addition to remanufacturing.