CINCINNATI — Oakley Die & Mold Co. Inc. is relocating to a larger facility and expanding toolmaking.
Cincinnati-based Oakley is moving about a dozen miles away to Mason, Ohio, where it paid $1.6 million to acquire and retrofit a 38,000-square-foot building. Vice President Harry Petrinowitsch said he expects to complete most of the move by the first week of December.
Oakley will invest another $1.4 million to acquire a new 950-ton Mitsubishi press for trials, and buy another computer numerically controlled electrical discharge machine, high-speed mill and graphite-cutting machine. The new machinery and installation of a crane will allow Oakley to improve work flow and move molds weighing as much as 15 tons. Oakley mainly makes injection molds for automotive, appliance, computer and consumer industries.
Oakley, a family-owned business, and its 60 employees are celebrating the company's 50th year in operation. Petrinowitsch predicts the firm's sales will reach $6.2 million next year and he anticipates future annual growth of about 10 percent.