NEW YORK — Pushed by growth in its medical and consumer and industrial equipment markets, small Massachusetts custom injection molder Cycles Inc. plans to spend almost $3 million on a new plant and an addition to its current factory.
The growth will boost the Sterling, Mass., company's molding capacity by about 60 percent in a quick shot, going from 23 molding machines now to about 34 by mid-1999, and will triple its plant space.
The company is in the midst of buying six to 12 acres in Sterling for its new facility, a 35,000-square-foot building that will start with eight to 10 molding machines, a toolroom and assembly space, said Paul Nickerson, vice president of sales and marketing.
The company also plans to add 12,000 square feet to its existing plant to house four injection molding machines ranging from 40-150 tons, he said. Nickerson was interviewed at the Medical Design & Manufacturing East show, held June 2-4 in New York.
Company officials declined to discuss the new medical molding they are attracting, but said about 40 percent of their annual sales of $7.5 million comes from existing medical business, including components for syringes, surgical devices and blood collection devices.
The expansion also is fueled by a contract to make pads for a company that makes equipment for grinders for both the consumer and industrial markets, Nickerson said.
Some of the expansion is being driven by customers that want to reduce the time it takes to go from development to production, said Larry Costello, New England sales manager for the firm.
Company officials said the new facility will have two molding operations: a ``lights-out'' molding room with four to six machines ranging from 40-150 tons and another molding room for larger machines that will start with four 250-ton machines and have assembly capability.
The new facility will cost about $2 million, Nickerson said. Expanding the current plant will cost about $1 million, and should be completed by October.
Cycles estimates its sales at about $7.5 million for 1998.