Custom molder Pyramid Plastics Inc. is investing to boost its stake in medical and technical molding.
The Rockford, Ill., company will spend about $1 million per year over the next few years to buy and install 10 new Toshiba injection presses in Rockford, said Tim Peterson, vice president of parent company Industrial Molds Group in a phone interview.
“We'll most likely reduce the number of presses at Pyramid and focus more on improving productivity and technical precision processing capabilities with an emphasis on medical molding with presses under 500 tons,” Peterson explained. Pyramid has already added two new Toshibas, a 55-ton press and a 90 tonner.
Pyramid plans to buy the Toshibas at the rate of one machine per quarter over the next two years. It now has 42 presses in Rockford, some of which will be replaced by new ones as the private firm modernizes its 45,000-square-foot Rockford factory. Peterson said there is enough room in the facility to accommodate the new presses.
Pyramid wants to include at least one two-shot press among the presses it will order. It also is considering adding a clean room or white room to bolster its push into medical molding.
Peterson said automotive and transportation are Pyramid's major current markets, followed by consumer hardware.
Pyramid will focus on customers that fit its business model and goals for growth in precision and technical molding, the company noted in a news release.
Rockford employs about 50 and likely will keep its roster at about that level through the modernization unless there is a need to add personnel for extra, value-added services, according to Peterson.
Pyramid works closely with its parent Industrial Molds Group to provide customers mold design and engineering services, including mold building. Conversely, Pyramid offers mold tryouts and qualifications and process validation for its parent.