Accurate Molded Plastics Inc. of Coeur d'Alene, Idaho, plans to replace 13 injection molding machines and upgrade tooling equipment using $2.4 million from Kootenai County industrial revenue bonds.
``The primary purpose of the financing is to buy replacement molding equipment to add capacity and efficiency and to make a significant investment in the tool-building operation,'' Jeffrey Pochop, president and chief executive officer, said in a telephone interview from his office in Bellevue, Wash.
The county's board of commissioners approved issuance of the low-interest, tax-exempt bonds May 5. Pochop plans on an 18-month spending schedule.
Within the past three years, Accurate has acquired nine injection molding presses with clamping forces of 40-125 tons and now operates 22 presses with a range of 15-700 tons.
On the tool-building side, the firm acquired a wire electrical discharge machine in January and also operates five computer numerically controlled milling machines and four other EDM mills.
Accurate focuses on short runs of precision-molded parts for specialty applications in industrial equipment and data entry devices, particularly for medical and electronic communications equipment. Other end uses include computer and aerospace applications. The firm has formed strategic alliances as the sole or prime supplier to key customers.
The business was formed in 1962 as a tooling operation and had added injection molding capacity before Pochop and his partners acquired the firm in November 1988 and incorporated it in Washington state. Accurate employed 35 and needed equipment upgrades, a portion of which was funded through the proceeds of 1989 industrial revenue bonds.
Now, Accurate employs 150, including more than 100 in molding operations and 17 in mold making.
The operations occupy 50,000 square feet in Coeur d'Alene.