Opening new plants in China and Ohio in successive months, Century Mold Co. Inc. is one company that is not shying away from the automotive sector. As a matter of fact, the company has spent $13 million in equipment and improvements during the last three years.
The Rochester, N.Y.-based mold maker and injection molder purchased a 48,000-square-foot facility in Monroe, Ohio, last month and is in the process of hiring. It plans to add 100 workers during the next three years. The plant is already open, but the bulk of its buildup will be in 2006.
``We've doubled our size over the last three years and we plan to double our size over the next three years. It's all based on increasing business,'' said Ron Ricotta, president and chief executive officer.
Ricotta said in a telephone interview that the new Ohio plant has already booked most of its business for the coming year. He said that the facility will have about 10 presses, ranging in size from 600-1,000 tons of clamping force.
``We're excited about coming to Ohio,'' he said.
The company is taking advantage of an Ohio Tax Credit Authority low-interest $2 million loan to add machinery. Overall, he termed it as $5.2 million project.
He said that Century Mold also just opened a 68,000-square-foot facility in Hengli, China, in November. That plant includes dormitory space for 250 workers.
``Our customer is looking for suppliers with more of a global footprint. They not only use domestic suppliers but those in low-cost countries. They need very good quality and engineering support,'' he said.
The company primarily makes automotive under-the-hood products. It has 375 employees overall and Ricotta said sales are about $60 million this year.
The company also has a plant in Shelbyville, Tenn.
Ricotta said that Century Mold has been in business for 26 years, but in recent years it has been stressing its complete service, from design and engineering, to mold making, injection molding and insert molding. That is why the company has invested $13 million in three years and plans to continue adding equipment in the future.