Mold maker Delta Tooling Co. has taken a minority holding in two Michigan companies, expanding its small tool capabilities.
Auburn Hills, Mich.-based Delta Tooling announced May 18 it has acquired a 49 percent share of Camtec Inc., an injection mold builder, and its sister company, injection molder Pinnacle Molded Plastics Corp., both of Traverse City, Mich.
Majority ownership of Camtec and Pinnacle remains with Mark Preseau, who is Native American, and both are registered as minority-owned businesses with the Michigan Minority Business Development Council.
Camtec specializes in producing molds for 50- to 1,500-ton capacity presses, while Delta Tooling focuses on molds for 500- to 5,000-ton machines. Pinnacle, meanwhile, has six injection molding presses in a 23,000-square-foot facility with capacity up to 3,500 tons.
"With Camtec we enhance our small-tool capabilities, and Pinnacle gives us increased parts production capacity," Delta Tooling President Pete Mozer said in a press release.
Delta Tooling has two plants and 270 employees, generating about $40 million in sales annually. It is part of the Delta Technologies Group, which includes Delta Mold Inc. of Charlotte, N.C., and North American Tooling Co. of Apodaca, Mexico.
The company also has strategic alliances and working relationships with toolmakers throughout Europe.
The Traverse City businesses will be able to expand its operations through Delta's vast reach, Preseau said.
"I can provide my customers with the fixture and large mold- making capabilities I didn't have before," Preseau said. "This gives them a broad-based approach for all their tooling needs. Plus, it enhances our ability to service customers globally."