Polymer Technologies purchase signals changing trends in toolmaking

By Rhoda Miel
News Editor

Published: February 3, 2012 6:00 am ET

Related to this story

Topics Mergers & Acquisitions, Injection Molding, Molds/Tooling

CLIFTON, N.J. (Feb. 3, 12:15 p.m. ET) — Injection molder Polymer Technologies Inc. has acquired injection molding toolmaker Polmold Tool Inc., adding new capabilities in tooling that will allow PTI to bring increased understanding and capabilities in mold-making in-house.

The acquisition also shows the shift in attitude toward tooling during the past 10 years, said Polymer Technologies President Neal Goldenberg.

“We were all lured [to sourcing molds from low-cost countries] with promises of dirt-cheap tooling with record delivery, but what’s happening is we’ve seen that these were promises never panned out,” he said.

“If you think about the way we use technology today, it’s wonderful, but there’s still something you can’t capture unless you’re sitting across the table from each other and can really share information.

“Everyone is on the same page in a way that can’t happen when one of the players is 4,000 miles away.”

The acquisition will help family-owned PTI produce better and more-efficient parts for highly engineered parts in the aerospace and medical industries.

“We’re in the fortunate position of having worked with [Polmold] extensively in the past,” Goldenberg said in a Feb. 3 telephone interview. “They know our clients, they know the materials we use, they know the demands on those parts.”

Terms of the acquisition were not disclosed.

PTI is based in Clifton, N.J., and has 24 injection molding machines ranging in size from 38-650 tons. It has 71 employees and offers metal injection molding in addition to its plastics operations. Polmold of Wallington, N.J., has six experienced mold makers and full production equipment. Polmold founder Henry Marzec will remain with the business as general manager.

The molder had some limited mold production and maintenance ability previously, but had “stuck to its knitting” in molding in the past, Goldenberg said. Adding experienced tooling capabilities will allow the company to vertically integrate.

To succeed with highly complex tools and parts, Goldenberg said, molders had to either have a very strong relationship with an outside tool shop or look at bringing that knowledge inside.

The Polmold tooling group, in addition to working with PTI, will continue its relationship with other existing customers, Marzec said.

“We can also offer a new value proposition,” he said. “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 de-bugging time … and increase our client’s speed-to-market.”


Comments

Polymer Technologies purchase signals changing trends in toolmaking

By Rhoda Miel
News Editor

Published: February 3, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Sumitomo Bakelite buying injection molder Vaupell Holdings

April 24, 2014 7:37 pm ET

Private equity firm H.I.G. Capital LLC of Miami has entered into a definitive agreement to sell plastics processor Vaupell Holdings Inc. to Sumitomo...    More

Zimmer buying Biomet in $13 billion deal

April 24, 2014 4:25 pm ET

Orthopedic device giant Zimmer Holdings Inc. is buying rival Biomet Inc. in a $13.35 billion cash and stock deal, the companies announced April 24.    More

Injection molder Precision Plastics adding space, presses in Indiana

April 24, 2014 2:54 pm ET

Custom injection molder Precision Plastics Inc. is expanding its Columbia City, Ind., operation.    More

Songwon acquires division of India's SeQuent

April 24, 2014 12:22 pm ET

Songwon Industrial Group of South Korea has signed a deal with SeQuent Scientific Limited, India to acquire SeQuent's specialty chemicals business.    More

Image

China's biggest fuel tank maker getting a US foothold

April 23, 2014 4:41 pm ET

The majority owner of China's biggest fuel tank maker is expanding its global automotive footprint with the acquisition of the fuel tank unit of Canad...    More

Market Reports

Market Data Book - Rankings & Lists

A one-stop download of Plastic News' exclusive annual lists and processor rankings containing essential data including sales, employees, end markets, materials and more.
EXCLUSIVE EXCEL FEATURE: full mailing address details for available plant locations.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report provides analysis and discussions of economic and political conditions, market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as strategies being implemented by thermoformed packaging companies. In addition, there are reviews of 25 leading thermoformers in the packaging segment, assessing their growth initiatives and performance metrics over 10 years.

Learn more

Mold Making and Tooling Review and Outlook 2014 North America

This report provides in-depth analysis of the mold and toolmaking market for North America, including discussions of trends, opportunities, threats, the latest developments in production and labor and equipment trends impacting moldmakers.

Learn more

Upcoming Plastics News Events

May 6, 2014 - May 8, 2014Plastics in Medical Devices 2014

May 12, 2014 - May 12, 2014Plastics News Brazil Pharma Summit

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

February 3, 2015 - February 7, 2015Plastics News Executive Forum 2015

More Events