Hallmark Technologies Inc. of Windsor, Ontario, is spending C$10 million (US$7.5 million) this year to boost its mold tryout and mold-building capacities. Hallmark has ordered a 3,500-ton HPM press for mold trials done by its Injection Technologies division. Bob Kavelman, vice president of finance, said the large press will help land new business with existing and potential customers as injection molders increasingly rely on bigger presses and molds.
Kavelman said in a telephone interview that the press will begin operation in the second quarter of 1996. The division has nine tryout presses with clamping forces as large as 2,200 tons.
The firm's Hallmark Tools division will buy several computer numerically controlled machines to add to the 12 it now runs. Extra capacity will allow production of custom steel molds larger than the 15-ton molds the division currently builds.
Hallmark said new equipment will cost C$7.8 million (US$5.8 million). It also will spend C$2.2 million (US$1.6 million) to add 23,100 square feet of space for the Injection Technologies division and 10,000 square feet for the tools division.
Hallmark builds and tests molds for automotive and other parts molders. It blamed delays in auto model introductions this year for slightly weaker six-month financial results.
The firm reported sales for the six months ended June 30 of C$11.9 million (US$8.9 million), vs. C$12.2 million (US$9.1 million) for the same period in 1994.
Profit slipped to C$1.3 million (US$970,000) for six months from the C$1.4 million (US$1 million) recorded the previous year.
Hallmark became a publicly traded firm on the Toronto Stock Exchange in January 1994.
