Wentworth Technologies Co. Ltd. has purchased an injection blow mold maker in New Jersey to complement its growing packaging business.
On Jan. 30, Mississauga, Ontario-based Wentworth completed the acquisition of Jersey Mold & Tool Inc. of Millville, N.J., for an undisclosed price. Jersey Mold, founded in 1972, is one of the few toolmakers to focus on the injection blow and injection stretch blow mold areas.
That specialty, used to make one-step injection and blow molded containers, will fit with the work done by Wentworth's growing stable of tooling and equipment suppliers in the packaging area, Walter Kuskowski, Wentworth president and chief executive officer, said in a Feb. 1 telephone interview.
The firm's Electra Form Industries unit, a Vandalia, Ohio-based maker of injection molds for PET bottle preforms and custom products, will manage the Jersey Mold operations, Kuskowski said.
Wentworth purchased most of the assets of Electra Form Inc. in March 2000.
``Jersey Mold is the last missing link for our offerings in blow and injection mold technology,'' Kuskowski said. ``We had everything in that area except injection blow molds. When the opportunity came, that was a prime driver.''
Jersey Mold's former owner, John Hofman, had decided to retire last year and approached Wentworth to buy the company, Kuskowski said.
Wentworth plans to invest about $1 million during the next eight weeks to expand the Millville plant by about 4,000 square feet and add equipment, according to Kuskowski. The facility currently employs about 30 at the 10,000-square-foot location.
Equipment from Electra Form, including Nissei and Aoki blow molding machines, will shift to Jersey Mold to develop a larger injection blow tooling center. The facility will offer concept design, testing and short-run tooling in addition to full mold production.
The molds are used for a variety of precision bottles, including those for cosmetics, pharmaceuticals and medical products.
Wentworth will close a second, much-smaller Jersey Mold operation in Estell Manor, N.J., and the equipment will move to Millville.
Wentworth plans to increase its acquisition activity in 2002 after a relatively quiet 2001. It has amassed other tooling and processing companies on several continents and now owns 13 tool manufacturing shops.
The company expects its tooling sales to reach US$65 million to US$70 million in 2002 and total company sales to top US$120 million, Kuskowski said.