Injection molder Technimark Inc. continues to expand in Mexico.
Less than a year after Technimark's August acquisition of Plasticus SA de CV of Mexicali, Mexico, the firm said it will open two additional Mexican plants. The plants, which should be operational by midyear, will be in Reynosa and Chihuahua.
A company news release said the plants are needed to support new business with maquiladora assembly plants. All of Technimark's Mexican plants will establish long-term supply partnerships with a few major customers that are moving assembly plants to Mexico.
``Our customers are moving their operations globally, which has created a narrow window of opportunity for us,'' said President Don Wellington. ``It is our strategy to remain flexible enough to move quickly in supplying them with quality plastic parts and services anywhere in the world.''
Technimark plans to have more than 70 machines in Mexico by the end of the year.
The two new plants primarily will serve the consumer products market. According to the release, the Mexico expansions will increase corporate sales to more than $100 million.
Technimark, based in Asheboro, N.C., reported 1998 injection molding sales of $70 million, up from $65 million in 1997.
Barry Heller, executive vice president, added, ``Although our strategic plan has most recently focused on growth in Mexico, our philosophy is to go wherever we can be of value to our customers, either domestically or internationally.''
Technimark is adding a technology center to its headquarters in Asheboro. The center will provide more space for engineering, design and corporate quality functions for all Technimark divisions. It should be completed by August.
Technimark also has two plants in Asheboro and one in Fayetteville, N.C. It runs about 122 presses and employs 978. It serves the consumer products, automotive, computer and packaging markets, among others.