RANCHO DOMINGUEZ, CALIF. - Advanced Materials Group Inc. plans to add converting capacity to Gasket & Molded Products Inc., a polyurethane foam converter it bought last month. Advanced Materials will install more equipment at Gasket's Parker, Colo., facility that will allow Gasket to process a wider variety of materials, according to J. Doug-las Graven, Advanced Materials' chief financial officer.
Graven declined to reveal further details, but said his company also plans to move Gasket to a larger facility in the area in about a year.
Advanced Materials of Rancho Dominguez buys plastic film, sheet and foams and other materials to convert to industrial and medical products.
Graven said die-cutting and stamping high density polyethylene sheet is one major business the company may introduce to Gasket.
Advanced Materials also makes systems for mixing, handling and dispensing chemical mixtures. Its stock trades on Nasdaq and it had sales of $14.7 million last year.
Graven said in a telephone interview that Gasket gives Advanced Materials a more complete presence in the western United States by giving it a plant 10 miles southeast of Denver. Advanced Materials' other facilities are in Rancho Dominguez and in Texas and Oregon.
Graven predicted Advanced Materials will expand Gasket's sales, which were about $600,000 last year.
Advanced Materials paid about $180,000 in cash for the privately held company, which buys PU foam blocks and rolls for fabrication.LONGMONT, COLO.-AIM Processing Inc., a custom injection molding company in Longmont, recently installed a new press with 88 tons of clamping force from Boy Machines Inc., at a cost of $100,000, including auxiliary equipment.
AIM President Jacqueline Jones said the company still specializes in small, tight-tolerance parts. However, she needed a larger press to accommodate multicavity, high-production molds.
The new press is part of a program begun in February to expand the company's capabilities.
A year ago, AIM took over another 2,400 square feet of space adjacent to the 2,400-square-foot space it occupied since the company's startup three years ago. It had been using the extra space as a warehouse.
The new space has been converted into a quality laboratory, complete with a newly added coordinate measuring machine with statistical process control software.
AIM operates four presses with clamping forces of 24-88 tons. All the machines are Boy units except for a 40-ton Van Dorn.
The company has seven employees.
``Although we run 24 hours a day, we only have one shift of personnel,'' Jones said. ``We're equipped to run automatically in a lights-out mode the rest of the time.''
She explained that this is how she manages to stay competitive as a small business in a large industry.
AIM's expertise is running small, precision parts in materials such as flexible PVC and fluoropolymers, primarily for the electronics and medical industries.