Schenectady manufacturer to add design, prototyping to its portfolio
INNOVATION NATION
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- Krystle S. Morey
- Reporter- Albany Business Review
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P1 Industries Inc., formerly DHA Holdings Inc., is building an innovation lab as part of the company's push to carry products from design through production.
David Dussault, founder of the Schenectady, New York manufacturer, said the company will invest up to $1 million in the lab over the next three years.
"The goal is to shift ourselves from being just a contract machining business to a 'prototype to production lifecycle' business," Dussault said.
P1 Industries, which employs 85 in the Albany region, makes parts for the oil and gas and power generation industries.
"We want to play a role in the design, we want to play a role in the prototyping and development work, and we want to transition it into production," Dussault said.
P1 is working with two companies to design, prototype and test two new product lines that are set to start production in 2015, Dussault said. "That will grow our business another 17 to 18 percent," he said.
Dussault said the company is just shy of $20 million in annual revenue.
The lab, which will be built at the company's Scotia plant, includes new machining and technology such as a 3-D printer and engineering software.
"We're going to use the lab to do some prototyping work for our customers and extend that into the entrepreneurship world where new ideas and products can be developed," Dussault said.
Dussault said phase one of the lab will be operational by the third quarter of next year. He expects all capabilities to be up and running by the end of 2016.
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