Foster pg 1 7-3-19


At the Foster groundbreaking, left to right: Chris Small, Foster Corporation; Jeffrey Rawson, Putnam selectman; Luba Stolyarova, VP Commercial Banking, The Washington Trust Co.; Norman “Barney” Seney, Putnam mayor; Delpha Very, Putnam Economic & Community Development director; Lindy Lee Gold, senior specialist Office of Business & Industry Development, State of Connecticut Department of Economic and Community Development; Lawrence Acquarulo, CEO and president, Foster Corporation; Mae Flexer, Connecticut State Senator, 29th District; Joseph Confessore, senior vice president, Team Leader, Commercial Banking & Wealth Management, The Washington Trust Co.; Douglas Porter, president, Northeastern Connecticut Chamber of Commerce; Stephen Vogel, director Information Technology, Foster Corporation; Brent Arthaud, Cardinal Construction, Inc. Courtesy photo.

PUTNAM — Foster Corporation has seen its business flourish in the last few years — so much so the company broke ground on a new state-of-the-art 55,780 square foot  manufacturing facility that is adjacent to its headquarter in the Industrial Park.
In addition to benefitting the company, the expansion will also bring new jobs to the Putnam area as Foster plans to continue on its growth path into the future. “We are happy with what we have been able to accomplish with cooperation between the area leaders and Foster and will continue to work with area leaders to add jobs as we grow. It’s been a good partnership,” said Larry Acquarulo, Foster CEO and owner.
The new building is expected to be finished in November.
The expansion comes just a few years after Foster opened a new pharmaceutical building for its “Delivery Science” business.
According to Acquarulo, “Foster’s recent growth has necessitated the new building as both our compounding and distribution businesses have grown to the point that space would become a limiting factor for Foster if we didn’t make this move. The new building will not only allow our growth to continue, but it will also allow us to grow in new markets where we haven’t been able to compete in the past, including larger volume medical applications.”
He added: “The new facility will house both compounding manufacturing assets and as well as hold inventory for our growing distribution business and our plan is to invest heavily to expand our capabilities and our market footprint in next 5 to 6 years.”
Foster Corporation creates polymer material solutions for the medical and pharmaceutical markets.


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