OAK CREEK, WIS. - Elwood Corp. has entered the injection molding equipment business by purchasing Mark 2 Automation.
Elwood President Bob Larsen said Mark 2 fits well with his firm's other businesses. The privately held company makes equipment for fluid power and hydraulic presses, and produces proportional solenoids and industrial electronics. The latter business includes photoelectric equipment, some of which is used in the plastics industry in sensors, he said in a telephone interview from Elwood's head office in Oak Creek.
Larsen said another attraction is Mark 2's growth opportunity as markets expand for sprue pickers, traversing robots, end-of-arm tooling and downstream equipment.
Mark 2 will move its operations from Germantown, Wis., to Elwood's plant this summer, according to Mark 2 spokeswoman Jennifer Curtis. Elwood's 33,000-square-foot facility is more than three times as big as Mark 2's.
Mark Steinhardt and Mark Barelmann, founders of Mark 2 in 1988, will continue with the company under the new ownership.
Mark 2 said in a news release that Elwood will provide additional resources to support Mark 2's product development.
Elwood was established 28 years ago.