Mold-Rite Plastics Inc. is spending about $1.5 million to expand its custom injection molding capacity. The Plattsburgh firm early this year installed two 550-ton KraussMaffei injection presses, and it plans to add another three later this year, said Jake Wilson, director of sales and marketing.
Mold-Rite needs the presses for its growing pharmaceutical and nutricitical business, Wilson said in a telephone interview. It is revamping relevant molds in its in-house mold shop.
Mold-Rite runs 83 presses with clamp forces ranging from 125- 550 tons. Wilson said there is enough room in the 397,000-square-foot Plattsburgh plant to accommodate the new presses.
The company has a diverse market base that includes packaging, beverage, food service, lawn and garden and industrial components. Its sales grew by about 16 percent last year to $55.5 million, according to Plastics News data. It processes polyolefins, polystyrene and SAN/SMA resins.
Secondary services offered in-house include part design, prototyping, decorating, assembly and tool design and building.