China's Yizumi Precision Machinery Co. Ltd. is setting up a facility to make high precision molds and machine components, in a bid to boost its capability to customize products and to increase manufacturing efficiency.
The publicly listed company announced that it has completed the construction of the new, 23,817-square-meter building for the mold making operation. It plans to start installing production lines in August and launch production by the end of the year. The project will be able to make 250 sets of high precision molds as well as 300 sets of key components for injection molding machines.
Yizumi is investing 39.1 million yuan ($5.9 million) on the project in Shunde, which it says will enable customized R&D and design for clients. The molds will be used on Yizumi's injection molding machines, providing higher precision and energy efficiency.
Customization will help go around the price war of standard machines, commented CEO Richard Yan, and it will help the company grow its core competency.
As Yizumi expands its overall capacity and observes customers' increasing need for high precision products, the move to increase in-house production of key components will help improve production efficiency and product quality, the company added.