Davies Molding LLC aims to capture new business now that it is recognized as a woman-owned business.
Davies, a custom and proprietary injection molder, recently got certification as a Women's Business Enterprise, a move that the firm's executives expect will open more doors in the marketplace.
“There's a lot of competition out there, and all things being equal this can put us over the top,” said Davies President Derran Smith in a phone interview.
A lot of Davies customers are government suppliers and they like to follow government guidelines on purchasing from minority owned businesses, he explained.
Davies got its certification from the Chicago chapter of the Women's Business Enterprise National Council. Davies, based in Carol Stream, Ill., announced the certification June 14.
Davies is owned by diversified industrial conglomerate Heico Companies LLC of Chicago. Heico in turn is majority owned by Heico Chairman Emily Heisley Stoeckel. By direct association with Heico, Davies is considered woman-owned.
WBENC confirms whether a business is at least 51 percent owned, operated and controlled by a woman or women who are U.S. citizens or lawful permanent residents. By including women-owned businesses among their vendors, suppliers to corporations and government agencies foster diversity in the business world, Davies noted in a news release.
Davies specializes in insert molding knobs, handles, cases and custom components for industries as diverse as medical and oil and gas. It does both thermoplastic and thermoset molding and offers two-shot molding, decorating, welding and packaging services. It claims to make the most extensive line of knobs and handles in the world but nearly half its sales are for custom molding a variety of products.
Davies was established in 1933 by Harry Davies. The family-owned company was bought by Heico in 1988. Heico runs more than 35 businesses with annual sales totalling more than $2 billion in manufacturing, construction and industrial services. Davies is part of Heico's Pettibone LLC platform, a varied group of companies that mainly make industrial machinery.