TORONTO — Triam Automotive Inc. plans to expand its plastics molding division to supply new parts contracts.
Triam will spend a few million dollars to add a 2,000- to 3,000-ton injection press and auxiliary equipment at its Stoney Creek, Ontario, facility, said David Hughes, chief financial officer.
The Concord, Ontario, firm recently won about C$18 million (US$13.1 million) a year in new contracts for General Motors Corp.'s truck and midsize car divisions and for the Cami Automotive Inc. joint venture between General Motors and Suzuki Motor Co. Ltd. in Ingersoll, Ontario. Hughes said the new contracts include large, under-the-hood parts such as engine shields and valances and body side moldings for the 1999 and 2000 model years.
Stoney Creek has 22 presses, with clamping forces as great as 3,300 tons. Triam recently added 13,000 square feet of space there.
The firm also announced May 20 that it will build a metal laser welding facility in the United States to handle about C$40 million (US$29.2 million) in new annual metal parts contracts. Triam said it probably will locate the facility in northern Ohio by year-end. The plant will not mold plastics.
Plastics made up 36 percent of Triam's sales last year. For the year ended Jan. 31, total sales were C$104 million (US$75.9 million) and net profit was C$946,000 (US$691,000).