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

Image

Mission Plastics brings new automated work cell on line

August 26, 2014 4:17 pm ET

Custom injection molder Mission Plastics Inc. and a customer have created a $1.5-million automated work cell for a medical diagnostics product.    More

Image

Lakeland Mold changes name to Avantech to reflect changing business

August 26, 2014 11:53 am ET

Lakeland Mold Co., which makes cast and machined aluminum tooling for the rotational molding industry, is evolving and has changed its name to...    More

Image

Megadyne buying Belt Corp. of America

August 26, 2014 10:35 am ET

In a move aimed at building its specialty belting manufacturing and fabrication operations, Jason Industrial Inc. — Megadyne SpA's wholly owned ...    More

Image

Sonoco buys Germany's Weidenhammer, plans for thin-walled packaging growth

August 25, 2014 1:41 pm ET

Sonoco Products Co.'s acquisition of Weidenhammer Packaging Group GmbH of Germany includes plastic packaging technology that the company is targeting ...    More

Image

Deceuninck buys PVC window maker Pimas, adds capacity in Turkey, Russia

August 25, 2014 2:26 pm ET

European building products manufacturer Deceuninck Group has acquired 81.2 percent of Pimas Plastik Insaat Malzemeleri AS, the leading PVC window prof...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

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

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events