Findlay Machine and Tool Inc. (FMT) will invest $7.2 million to repurpose its former fabrication operation for injection molding, bringing to $40 million its total investment in its Findlay, Ohio, operations over the past three years.
FMT sold its industrial parts washer and sheet metal fabrication business in August to Arnold Machine Inc. (AMI) of Tiffin, Ohio. FMT retained the tool and die repair operations and machine shop in the 120,000-square-foot building, where it plans to install 15 new high-tonnage presses soon, and perhaps nine more over the next two years, according to President Joe Klein.
The company already operates 11 presses with clamping forces of 720-1,550 tons at its 60,000-square-foot facility a few miles away.
To accommodate continued double-digit sales growth, FMT also is adding staff.
"We employ 80-90 now, and we'll probably be at about 120-130 when all is said and done," Klein said in a July 1 phone interview.
FMT serves the consumer goods, appliance, automotive and agricultural products markets. It also offers engineering and design, prototyping and 3D printing services.
The company's official headquarters recently moved from Findlay to Sarasota, Fla., along with owner Nickolas Reinhart, but FMT said it remains committed to Findlay. In a news release, CEO Dave Feldman cited the regional workforce's skill in advanced manufacturing, the city's central location and its access to key markets as reasons for its decision to expand there.
FMT also received a jobs-creation tax credit from the state, and support from Regional Growth Partnership, JobsOhio, the city of Findlay and Findlay-Hancock County Economic Development.