GRAND RAPIDS, MICH. (Oct. 12, 2:05 p.m. ET) — Royal Technologies Corp., a Michigan-based supplier to automotive, office furniture and consumer products markets with about 250 injection molding machines, plans to buy Hi-Tech Plastics Inc., a custom molder in Mission, Texas, near the Mexico border.
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.