CIMCO, a Costa Mesa maker of plastic components and subassemblies, said it has purchased a 33,000-square-foot building in Corona to house expansions of both its plastic-molding operation and its compounding division.
The company said that up to 50 people will work in the new facility--purchased for $1.2 million from an unnamed private source--when it opens in November.
The company also announced that it has signed major contracts with two companies--Canon Business Machines in Irvine, and the IVAC division of Eli Lilly.
The agreement with the Lilly division is a three-year, $3.4-million contract calling for CIMCO to manufacture digital thermometer probe covers for IVAC. The Canon pact is an annual contract for the manufacture of plastic components for Canon's typewriter ribbon cartridges.