“We’re delighted to be acquiring this facility and we will be investing at least $20 million to greatly expand staff, purchase new machinery and invest in research and development of new product lines,’’ said Uttam Chief Executive Karan Bhatia in a statement today.
The 107,000-square-foot facility, which produces thousands of cylinders a year, has already doubled its staff from 11 to 22 employees and will grow to around 50 people in the next two years, Bhatia said.
Uttam’s business in India, Uttam Cylinders, has had a compounded annual growth rate of more than 60 percent in the last three years.
Uttam Buys Catalina Composites in Garden Grove
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