MEXICO CITY — Canadian mold maker I. Thibault Inc. plans to invest more capital in its wholly owned Mexican subsidiary, which it started operating in the summer.
“We plan to increase our capital investment in 2015 and will also increase staff levels,” Sandra Tremblay, I. Thibault's business development manager, told Plastics News at Plastimagen México 2014 in Mexico City in late November.
I. Thibault purchased an established Mexican company, Tecnimoldes SA de CV in the city of Puebla for a seven figure dollar sum in June and changed its name to Tibomoldes SAPI de CV. The company has 22 employees.
“Things are going very well,” said Tremblay, who is also Tibomoldes' general manager, adding that “the employees stayed with us.”
“We are very optimistic,” said Marc Thibault, I. Thibault's CEO and president of Tibomoldes.
The new subsidiary carries out mold modifications, repairs and maintenance and “has started building molds,” said Tremblay, explaining that Tibolmoldes has won a contract to build a mold for a Tier 2 auto industry supplier in Mexico.
In total, Tibomoldes has 20 customers. Its plant covers 11,300 square feet and its machinery includes four 3-axis CNC machines, one 5-axis CNC machine, three EDMs, two laser welding machines, a lathe and a 20-ton crane.
Founded in 1963, I Thibault is based in in Saint-Damien de Buckland, Quebec, and has annual sales of $12 million, according to Marc Thibault.
