As managing editor of The Lorain, Ohio, Morning Journal has a story today that's pretty unusual: a new toolmaking company is getting ready to open.
Some machine shops may be closing, and some jobs may be shifting to other countries, but that's not stopping Tom Reichert from starting up his own shop and using a lot to do it. The 43-year-old Huron man used his four-bedroom home as collateral to get a loan to help get Custom Tool and Mold LLC up and running. The company, which should open within the next two weeks, will make and repair injection molds that could be used for things like fishing lures and vacuum and car parts.
Reichert has prior experience -- he has been in the injection mold industry since 1984, and he owned a shop in Port Huron, Mich., from 1994-2001, according to the story.
''I guess it comes down to just believing in yourself that you can do it,'' he said. ''I think if you find a niche and you stay efficient, you can compete with the overseas (companies),'' Reichert said. ''I think the quality of American-made tools is still higher than foreign tools.''
It's nice to see that the plastics industry still holds promise for entrepreneurial-minded individuals. Best of luck to Reichert, and to all the small privately held firms working hard to compete in the global economy these days.