AarKel Tool & Die Inc., which three years ago acquired a majority interest Platinum Tool Technologies Inc., now owns 100 percent of the company. Both Canadian automotive mold makers are in the Windsor area.
AarKel's purchase of Platinum Tool moves AarKel into the business of injection molds for automotive lighting. AarKel owns Platinum tooling plants in Oldcastle, Ontario, and Saltillo, Mexico. Those operations joined AarKel shops at its headquarters in Wallaceburg and in Edinburgh, Ind.
AarKel makes both injection molds and tooling for die-casting. Large rotary two-shot molds are a specialty. The die-casting business includes big molds for making transmission and engine blocks. Terms of the deal were not disclosed.
Andrew Stewart, AarKel's vice president of sales and engineering, said the company employs about 275 people and is on pace for annual sales of about $85 million.