NEW CASTLE, PA. (March 19, 5:05 p.m. ET) — Velocity Equipment Solutions LLC has boosted its blow molding capabilities with the acquisition of toolmaker Molinaro Tool & Die Inc.
The companies did not disclose a price for the deal, which was announced in a March 15 news release.
Molinaro is a maker of injection mold tooling as well as blow molding tools and operated in New Castle, Pa., also the home of Velocity. The operations will be melded into Velocity's facilities. Molinaro's employees have been offered positions within Velocity, the company said.
The acquisition gives Molinaro's customers access to production within a “state of the art” manufacturing facility and access to products the company was not able to offer on its own, Velocity said.
Molinaro opened in 1986 and owned several patents for bottle caps in the dairy industry.