June 6, 2013
Castor Materials, a Philadelphia-based manufacturer of ready-to-mix concrete, officially announced the opening of their second facility on May 23rd.With their main facility located on Castor Avenue by the Tioga Marine Terminal in Port Richmond, Castor Materials decided to open a second concrete mixing and processing plant in order to increase their supply capacity for larger projects, such as the renovation of Interstate 95. The new facility, located on S. 61st Street in the Eastwick section of Southwest Philadelphia, will create 18 new jobs, as well as allow the company to offer faster, more reliable delivery of concrete and paving products to customers throughout the Delaware Valley.
While President Bill Hagstotz initially began his highway paving business in 1989, he started Castor Materials in 2005 after seeing an opportunity to provide ready-to-mix, highway-grade concrete for projects in the Philadelphia area. Since that time, Mr. Hagstotz, his wife Renee, and children William, Melissa, and Kyrsten have grown the business substantially and diversified their product base. “Entrepreneurs are always looking for new and innovating ways to produce and establish themselves and with PIDC’s help, Castor Materials is on its way to be an innovating business”, said Renee Hagstotz. In addition to providing concrete products, Mr. Hagstotz also works with Civil Engineering students at Temple University, teaching them about project management.
At May’s event, Mr. Hagstotz began the ceremony by thanking his employees, partners, friends and family for their support and assistance with Castor’s exciting expansion. “We are happy to be in a City that invests in its businesses and helps to create new jobs” Hagstotz said. PIDC President John Grady spoke about the significance of companies such as Castor Materials who have chosen to invest in the Lower Schuylkill, a nearly 4,000-acre section of Southwest Philadelphia that was the subject of a recently released master plan from the City’s Planning Commission, Commerce Department, and PIDC. Alan Greenberger, Deputy Mayor for Economic Development and Director of Commerce, spoke about the importance of manufacturers like Castor Materials to the City’s vibrant industrial sector and its broader
PIDC was proud to have supported Castor Materials’ expansion with low-cost financing. For more information on how PIDC can assist your manufacturing business and relevant programs, please contact Mike Cooper at or 215- 496-8183.