Polymer Technologies, Inc. (PTI) announces its acquisition of Polmold, a Wallington, NJ-based manufacturer and repair shop for injection molds, tools, dies and fixtures. The acquisition is expected to close February of 2012.
PTI is a custom plastic and metal injection molding company that provides contract manufacturing to the aerospace, defense, medical/surgical, automotive, commercial, consumer electronics and dental industries. The company offers design, engineering and manufacturing services supported by Mold Flow analysis. Its Clifton-based facility is home to 24 injection molding machines ranging from 38-ton to 650-ton machines and employs 71 professionals across its 24 hours a day, five days a week operations.
Polmold manufactures precision injection molding tooling for both plastic and metal injection molding (MIM) programs. Additionally, the company has extensive experience in construction and repair of molds for compression and investment castings applications, as well as providing complementary services for associated tools, dies and fixtures. The purchase will strengthen PTI's position as a 'one-stop shop' contract manufacturing solutions provider. The company has five CAD/CAM work stations, four late-model computer numerical control (CNC) machining centers, seven CNC milling machines, two lathe machines, two wire and three "sinker" electric discharge machines (EDM), six grinders and QC inspection equipment to guarantee the quality of the value-added services they supply.
"The acquisition of Polmold complements our existing product offering and continues our strategic plan to offer streamlined contract manufacturing services to our customers in the USA and internationally," says PTI president Neal Goldenberg. "Our vertical integration of this critical technology into our operation will truly make us a complete solutions provider for any engineered injection molding application."
Melvyn Goldenberg, PTI founder and Neal's father adds, "We have been pleased to see a strong resurgence of tooling work being done here in the United States. Much of this is due to the realization that the cost-savings from work done overseas in places such as China didn't pan out the way people had hoped it would when variables such as lost time and additional costs of rework were not a part of the original equation. Further, given the size of some of the tooling, transportation and import fees, outsourcing has become very cost prohibitive."
Wallington-based, Polmold was founded by Henry Marzec in the 1980s. Polmold employs six highly-skilled workers whose combined 80+ years of experience in injection molding tool design and construction, and use of their state-of-the art equipment, will ensure the tools built will meet or exceed the stringent requirements of PTI's customer base. With this acquisition, PTI will employ a total of 77 manufacturing professionals at its two facilities. Marzec will assume the role of Polmold Tool Inc. general manager.
"We are very pleased to join our forces with PTI and the Goldenberg's. We still intend to support our existing clients with the same level of superior quality, workmanship and service for which they have come to rely on us however, now can also offer a new value-proposition," says Marzec. "Through utilization of PTI's injection molding expertise, we can prototype and troubleshoot these tools prior to being shipped to the client. This will significantly reduce the debugging time associated with new tool manufacturing and increase our client's speed-to-market."