MESA, ARIZ. - Accurate Thermoplastics Inc., a custom injection molder, had its Chapter 11 bankruptcy discharged Aug. 5 and the company now is under new ownership and management. The Mesa company had filed for protection under Chapter 11 of the U.S. Bankruptcy Code in December 1992. It reorganized after a jury awarded $450,000 in damages to a Phoenix businesswoman for breach of contract and lost profits in a dispute with Accurate over molds made for a water filtration product.
Roy L. Thompson, a Phoenix-area businessman, was called in two years ago to help the company's former owner, Jerry Scruggs, turn the company around. Thompson purchased ATI from Scruggs and settled the bankruptcy issues.
Thompson said he is ready to get ATI beyond its checkered history and make it a first-class molding company. He recently hired Jim Pack as tool room manager and Robert Knefelkamp as sales representative, in renewed efforts to boost sales of tooling and molding.
ATI operates in a 15,000-square-foot plant with 14 injection molding machines with clamping forces of 25-390 tons. Many of the newer machines are equipped with robotics. The firm also recently installed a Class 100,000 clean-room molding area to accommodate an increase in requirements from its medical-device customers.
ATI also has in-house mold-making capabilities, and secondary operations such as hot stamping, sonic welding and light assembly.