Davis-Standard Corp. continued its financial rebound in the second quarter, and the Connecticut-based machinery maker has announced a multimillion dollar expansion.
Davis-Standard officials also released NPE 1997 sales figures — about $25 million — and announced a new $2 million whirling machine from Austria that dramatically boosts screw cutting.
Davis-Standard is spending $3 million to build and equip an 8,000-square-foot addition in Pawcatuck, Conn. — part of a phased-in expansion that will end up totaling 47,000 square feet. With the first phase completed sometime later this year, Davis-Standard will add production space for large extrusion systems. Davis-Standard is buying metalworking equipment, including a machining center to turn out components for the company's gearboxes.
Edward McGrady, vice president of manufacturing, said some extrusion systems get very long, around 100 or 150 feet, after Davis-Standard adds downstream machines that remove, cut and process the end product. The firm sells the machines to sheet and wire and cable markets.
Crews run the complete systems before shipping them.
``You might have them on the floor three or four weeks,'' McGrady said.
The company installed its whirling machine three months ago. The special machine, which McGrady said cost $2 million, was made by Weingartner Maschinenbau of Kircham, Austria.
Whirling uses a spinning, doughnut-shaped cutting tool to cut flights into the screw.
McGrady said the Weingartner whirler can whirl, mill and cut splines 80 percent faster than traditional operations.
``A screw that would have taken 10 hours to cut before will only take our operators two hours,'' he said.
Davis-Standard is a division of Crompton & Knowles Corp., which is based in Stamford, Conn. Crompton calls Davis-Standard its specialty process equipment and controls segment.
For the second quarter, ended June 28, Davis-Standard recorded a 7.4 percent increase in sales, to $75.8 million, from $70.6 million the year before. Operating profit climbed 27 percent, to $8.1 million, from $6.4 million in the year-ago second quarter.
Those solid numbers follow the first quarter, when Davis-Standard's sales gained 9.3 percent.
Davis-Standard did not have a good 1996, closing out with flat sales and a plunge in operating profit of more than 40 percent At NPE in June, Davis-Standard booked orders totaling about $25 million, said President Robert Ackley.
Davis-Standard makes extruders, extrusion coating machines, cast and blown film systems and blow molding machines.