P1 Industries is moving to a new, larger headquarters amid significant top-line and headcount growth.
The contract manufacturer has moved about 40% of its equipment into the $12 million, 90,000-square-foot complex in Schenectady County’s Airport Business Park in Glenville, according to CEO David Dussault, who expects the move to be wrapped up by October.
Prior to the move, the company’s manufacturing operations were spread across four locations in the Schenectady area. The new headquarters brings them together, though P1 is maintaining some of its existing spaces — a site on Maxon Road Extension and a portion of its Mohawk Avenue location — for material storage.
“I think we’re ready now,” Dussault, a General Electric alum who founded P1 about 20 years ago, said of the facility upgrade during a tour on Wednesday. “We better be ready. We’re doing it.”
The two-building headquarters dedicates 65,000 square feet to the company’s energy unit, which makes components for power generation equipment, and 25,000 square feet for defense-industry projects.
The larger space is organized around product families to gain efficiencies. For instance, one component that previously would travel about 3.6 miles between locations as it was assembled, now travels just 150 feet, Dussault said.
To start, roughly 15% of the larger facility will be unoccupied, giving the business room to grow.
The company expects revenue this year of $60 million, a significant improvement over last year’s $41 million, said Dussault, who attributed the growth to increased demand in the energy and defense markets.
P1 is approaching 150 employees and has about 20 open positions, according to Dussault, who still handles all final interviews.
“I don’t look at competence,” Dussault said. “Other team members will look at that. I just look at, ‘Are they going to be a cultural fit? Are they going to work hard?'”
The manufacturer has invested about $6 million in new equipment since the start of the year.
LSI Development Group of Glenville, in conjunction with C2 Design Group, built the headquarters for P1.
Note: the above is quoted from the Albany Business Review article, which can can read here.
