TPE Solutions, based in Shirley, is planning to open a research and development, distribution, and office building in Devens.
This building will span 31,000 square feet. Such sites often turn to banner printing to inform residents of such upcoming projects.
An affiliate of TPE, Jonas & Elaine Realty, purchased the property which was vacant last December for $720,000 from the Massachusetts Development Finance Agency. The property itself covers 6.73 acres on Lake George Street.
CEO and president of MassDevelopment, Navjeet Bal, said that his organization is happy to welcome TPE Solutions to Devens. Bal added that the property will be able to support the plans of the company to expand in the area. The CEO also commented that this will further the mission of MassDevelopment to transform Devens from an army base of the United States into a place where people want to work, live, and play.
The president of TPE Solutions, Jonas Angus, expressed his thrill in expanding to Devens and that the company is looking forward to joining the community at Devens.
TPE manufactures thermoplastic elastomer compounds, both off-the-shelf and custom-made. These materials are composed of rubber and thermoplastics and are used in hoses, parts for automobiles, and many other products.
Construction is expected to begin late next year, and the facility is set to be completed in 2027.
