An India-based company is looking to grow its footprint inside Pender Commerce Park.
Hose manufacturer Polyhose is moving forward with the acquisition of more than 8 acres along the industrial park’s western edge. The company plans to expand its existing warehousing and assembly facility onto the new site.
In August, the Pender County Board of Commissioners considered a $419,150 offer from Supreme Ventures Inc., an entity representing Polyhose, to buy the 8.3 acres that make up Lot 4 in the commerce park. The total price breaks down to $50,500 per acre. The board unanimously voted at its Aug. 21 meeting to approve a resolution to kickstart the upset bid process on the land.
If no one submitted another bid during a 10-day upset bid period, the offer would be accepted by Pender County and a 120-day due diligence process would begin, Sarah Taylor, assistant to Pender County Manager David Andrews, explained to the board in August.
During the upset bid period, which concluded Monday, the county received no other alternate bids, according to Cliff Pyron, director of business development with Wilmington Business Development. Polyhose is now moving forward with the due diligence process.
The 8.3 acres that’s set to be sold is part of the 91.95-acre parcel Pender County owns at the back of Pender Commerce Park. The 8.3-acre lot was purchased in 2006 for $10,500 per acre, according to Taylor.
Since opening in 2013, the 450-acre industrial park along U.S. 421 has seen success in drawing new businesses and jobs to Pender County. Current tenants include Acme Smoked Fish, Empire Distributors, FedEx Freight and Coastal Beverage, among others.
Lot 4 is adjacent to Lot 3, a 9-acre parcel that’s home to Polyhose’s existing 52,500-square-foot facility. Polyhose began construction on the existing facility in October 2020 and began moving in
the following spring.
The company manufactures thermoplastic, hydraulic, PTFE and industrial hoses and tubing for large equipment companies. Polyhose was established in 1996 in Chennai, India, and today has a worldwide footprint with facilities in Europe, North America, Australia, Africa and Asia. The company has about 3,500 employees worldwide.
In a 2021 Greater Wilmington Business Journal story
, company officials said they have had plans to expand the facility and add manufacturing in the coming years.
No further details were available as of Wednesday afternoon. A company representative did not respond to a request for comment before publication deadline, and officials with Wilmington Business Development declined to comment further until the land sale closes.