Ky. toolmaker invests $1.3 million to expand

OWENSBORO, KY. (Nov. 6, 11:10 a.m. ET) -- Tool and die maker Industrial Mold & Machine Co. is expanding and adding larger and more efficient equipment so it can offer a wider range of services to its customers.

The Owensboro-based company is investing more than $1.3 million to add 16,000 square feet to its existing 23,000 square feet, said President Loyd Hinton in a Nov. 6 telephone interview. That additional space will provide the room needed to add a larger lathe to build larger tools, a new water jet machine and additional wire EDM equipment.

The larger capacity equipment and cranes will give the company the ability to compete for more mold making business, he said.

The company also expects to add five new jobs as part of its expansion.

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