P1 Industries plans to build a million-dollar innovation lab in Scotia that will add design, development, and prototyping to its portfolio of manufacturing services.
Founded by David Dussault, an Albany-area industrial entrepreneur, the Schenectady company employs 85 people and earns nearly $20 million in revenue. Formerly known as DHA Holdings, P1 Industries makes parts for the oil and gas and power generation industries.
In an interview with the Albany Business Review, Dussault described his vision for the future. “The goal is to shift ourselves from being just a contract manufacturing business to a prototype-to-production lifecycle business,” he explained.
“We’re going to use the lab to do some prototyping work,” he added, noting plans to acquire new technologies such as a 3D printer and engineering software.
P1 Industries is planning a multi-phase construction project over three years. Phase 1 of the innovation lab will be operational by Q3 2015. By the end of 2016, all of the facility’s capabilities will be up-and-running.
Demand for the company’s services is strong and growing, and Dussault predicts nearly 20% growth as two P1 Industries customers prepare to launch new product lines in 2015.
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