FoxFire Printing Undergoes Major Capex Project
NEWARK, DE—Retail signage specialist FoxFire Printing and Packaging is enjoying an economic expansion boom, fueled by an $8.6 million capital investment initiative that will usher in new gear, including an offset printing press, and allow the company to add 38 new positions, the Wilmington News Journal reported.
John Ferretti, CEO and owner of FoxFire, told the newspaper that the company will hire a variety of sales and production personnel. The expansion was aided by a $336,000 grant from the Delaware Strategic Fund and a $1 million loan. He expects revenues to reach the $45 million plateau this year.
The new employees will all be employed at FoxFire's facility here. The company also has a data processing center in Maryland and a distribution plant in Nashville, TN—Pinnacle Business Products—that was acquired in 2011.