Comet Tool Co., a molder and toolmaker in Williamstown, N.J., is preparing to triple its production space with a $3.5 million expansion into a new facility in early July. Comet, which employs about 50 toolmakers, is undertaking the expansion because it needs larger and more high-speed mold-making equipment, said Richard A. Lappine, general manager.
The company is moving out of a 23,000-square-foot space in Williamstown and into a 71,000-square-foot building in Pitman, N.J. The plant is on a 15-acre site.
Lappine said Comet is adding a variety of toolmaking equipment, including a wire electric discharge machine, five-axis computer numerically controlled milling, gun drilling and large-plate grinding.
The company also has nine injection presses, with 80-350 tons of clamping force. The presses are used mainly for mold testing and limited production runs. Lappine said Comet also may buy a 300-ton Husky press that would be used to test new molds built to produce blow mold preforms.
Comet, which focuses on the health-care, packaging and consumer products markets, wanted to maintain its toolmaking and molding business at one site.
Comet also is looking to open a sales office in California in the near future. Within the past year, it has opened a sales office in Atlanta, boosting the number of sales offices to three including others in Columbus, Ohio, and Williamstown.
Lappine said Comet's sales have been growing at 35-40 percent annually in recent years. He declined to disclose total sales.