MINNEAPOLIS (Aug. 29, 1:55 p.m. ET) — Minneapolis injection molder Spectrum Plastics Group is teaming with a toolmaker to collocate toolmaking within its own molding operations.
Spectrum said a business agreement with the mold maker does not allow the company to divulge the toolmaker’s name, but noted that it is located in the Minneapolis and St. Paul, Minn., area, and that the alliance will aid in quick development of new projects.
“We are now able to quickly respond to tool modifications, revision changes, and new tool builds,” said Doug Johnson, general manager for Spectrum Plastics Group’s Minnesota division, in an Aug. 28 news release.
The move means Spectrum has in-house tooling capabilities at all three of its manufacturing sites — in Minneapolis; Ansonia, Conn., and Brewster, N.Y. — said President and CEO Randy Ahlm.
Both the molder and the mold maker will continue as independent operations, but the collocation will place tooling support alongside production, allowing for faster responses to Spectrum’s customers in the medical, aerospace, defense and precision industrial industries.
Spectrum is majority owned by private equity firm Spell Capital Partners LLC.