Toledo Molding & Die Inc. is moving South, with plans to build an injection molding and blow molding operation in Elba, Ala. The expansion, announced June 19, will support the company's business in a region with an expanding auto industry base, executives said.
``By locating in the South, TMD can target new customers that may have been out of reach due to shipping and logistics costs,'' President and Chief Executive Officer Donald Harbaugh said in a news release.
The Toledo-based company already is set to work with Visteon Corp. operations supplying Nissan Motor Co. Ltd. plants in Canton, Miss., and Smyrna, Tenn.
The 92,000-square-foot plant will be big enough to back TMD's business plans through 2007. The firm said it will launch in about a year with 100 employees and eventually expand to 125 workers.
Toledo Molding had about $130 million in sales last year and 900 employees. All of its existing operations are in Ohio, with plants in Bowling Green, Carey, Tiffin and Delphos.