Packaging Technology Group, Inc., (PTG), a leading provider of thermal packaging solutions for the biopharmaceutical and life sciences sector, announced today a new location in Louisville, Kentucky. The new manufacturing facility, slated for completion in April 2020, will allow PTG to add capacity, expand its product portfolio, and create at least 40 new jobs in the Louisville area.
We are very grateful for Gov. Andy Beshear, Louisville Mayor Greg Fischer and the Kentucky Economic Development Finance Authority (KEDFA) for their support in the great state of Kentucky, said Bill Blezard, Chief Executive Officer of PTG. This new location reinforces our continued commitment to our clients and partners in the biopharmaceutical and life sciences industry.
Our world-class logistics hub continues to attract new businesses seeking to optimize product delivery around the globe and provides unsurpassed end-of-runway capacity to meet the specialized needs of companies in our advanced manufacturing and aging innovation and health clusters, said Mayor Greg Fischer. Louisville welcomes PTG and wishes the company great success!
Celebrating its 15th year offering the most advanced, temperature-sensitive thermal shipping solutions for many of the top pharmaceutical and biologics companies, PTG continues to develop, qualify, and roll-out both custom and off-the-shelf shipping solutions. PTG has made a strong commitment to sustainability and ensures its products are sensitive to environmental impact.
PTG recently launched its product line of thermo-efficient, 100% Curbside Recyclable, and environmentally sustainable solutions, TRUEtemp Naturals Cellulose. The TRUEtemp Naturals Cellulose Shippers are designed with a unique, curbside recyclable insulating fiber composed of layers that protect against impact and temperature fluctuation.
Pharma cold-chain logistics is predicted to grow to $18 Billion1 by 2022 as the demand for temperature-sensitive health care products continue. We have made significant investments in our infrastructure, team, production, and lab equipment, and this expansion was a natural next step, added Thomas Lawlor, Chief Operating Officer at PTG. This provides us redundant manufacturing capabilities while substantially increasing our capacity for our cellulose line of products.
Packaging Technology Group, Inc. (PTG) designs, engineers, and manufactures sustainable, thermal shipping and packaging solutions for the biopharmaceutical and life sciences sector. Established in 2005 as a faith-based organization, PTG remains privately held by its founder, ensuring an active and vibrant culture steeped in the companys foundational principles, traditions, and values. Headquartered in Fall River, Massachusetts, the company maintains a strong commitment to the community.
1 Mark Lipowicz, Pharmaceutical Commerce, Biopharma cold-chain market forecast