By RON FELBERG and JOSEPH A. MALZACHIPosted February 06, 2018 07:03:10The Illinois Molding Company is setting its own price for the product it will offer for the first time, with a product that is likely to be an immediate hit.
Illinois Milling said Thursday it would begin offering its new moulding for $2.00 per square foot, or about a third of what the market will pay.
That is up from its previous price of $1.99 per square feet, which was also a significant bump.
The company said it had made a significant improvement in the performance of the molding, making it a better choice for commercial applications.
The new price also will allow the company to raise its molding prices to $3.99 a square foot in the next few weeks, it said.
Illustration: Michael BreenIllinois Molding, the state’s largest producer of molding for commercial use, is the largest maker of the moulding in the United States.
It is the only firm to manufacture moulding on a mass scale, and it has grown by a quarter in size since its start in 2005.
IllisMoulding is a small, independent company that was started in 2008, and its sales have grown dramatically in recent years.
The company makes a wide range of products that are used in residential, commercial and industrial projects around the state, from wall to roofing to furniture.
The Illinois Department of Labor and Industry said Illinois Mould, which employs about 50 people, would be one of the largest employers in the state when it starts producing its moulding, as it has for decades.
The Illinois State Building and Construction Trades Council, which represents Illinois’ large-scale industrial firms, said the state was in the process of hiring more workers for the industry, and said Illinois’ biggest job creators are manufacturing companies.
“The Illinois Milling Company is making a significant investment in the quality of its product, and we look forward to working with them as they continue to innovate in this new market,” said Illinois Labor Commissioner Brian Gorman.
The new price is the biggest price increase Illinois has seen in nearly two decades.
It comes after the state announced it was increasing its minimum wage from $9.50 an hour to $11 an hour by 2020.
That increase also came after the Illinois Department and Community Development said it was raising the minimum wage for new workers from $11.40 an hour in 2020 to $13.50 in 2021.
Illissia Mould will continue to sell the new moulds for $3 per square inch.
It will start selling the product for about $1 per square meter, about one-third of the $2 per square yard that the state has set for the mould.
The state’s new mould prices have already prompted some major companies to lower their prices.
The price of a square yard of lumber, for instance, has been slashed to $1 an inch by many of its largest competitors, including Kona, and is currently $1 a square inch, a cut below the $1 to $2 an inch mark that has been set for decades by Illinois.
IlliasMould has been trying to keep up with the changes in the industry.
The firm started in 2005 with about 20 workers and has grown to more than 80 workers.
Its sales have been growing at about 2% annually, and the company expects to continue to grow as it expands.
IllisMold is one of four companies that produce moulding at the state plant.
Illissia’s plant, which is owned by the state and operated by the company, has grown from a manufacturing facility to an assembly plant with about 4,200 workers, and more than 4,000 employees.
The state will begin offering the moulds next month, and Illis Mould expects to begin selling the new products in mid-February.