Spings’ Bal Seal a finalist for Colorado bioscience company of the year

The company made huge advances by making small parts.

Bal Seal, which has operations in Colorado Springs, is one of three finalists in the Colorado BioScience Association’s Company of the Year.

The CBSA will announce its winner at its 2012 awards dinner celebration Dec. 6 in Denver.

The other finalists are: Covidien (Colorado operations), Boulder; and TOLMAR Inc., Fort Collins.

“Our Company of the Year award is the highest honor we designate for an established bioscience company exhibiting stellar achievement in the industry,” said April Giles, CBSA president and CEO.

Past winners included Roche Colorado, Pharmion, Baxa Corporation, Myogen, Allosource, CaridianBCT, Accera, Amgen Colorado and LABS Inc.

Bal Seal is headquartered in Foothill Ranch, Calif., but has a Colorado Springs facility, off Garden of the Gods Road. The company is building a $45 million, 155,220 square-foot manufacturing building, off Interstate 25 at Interquest Parkway and Federal Drive.

The new manufacturing plant, where machinists and engineers will make custom-engineered seals and connectors used in the medical and aerospace industries, expects to add 200 jobs in the next two years.

Pete Balsells, an aerospace design engineer, founded Bal Seal in 1958 based on a spring coil — a plastic ring with a groove in it to house a coiled spring. Today, the company has 120 U.S. and foreign patents, 500 employees and exports about 35 percent of its product to 38 countries.

Bal Seal opened shop in 2006 in Colorado Springs with 60 employees. Last year, the company had about $85 million in sales and it is on track to double in the next five years, its CEO has said.