Moldmaker opens doors in Costa Rica—competitive option to Asian tools?

International Precision Molds S.A. (IPM) is the name of a new injection moldmaker headquartered in Alejuela, Costa Rica. The firm celebrated its business launch with an open house in February. IPM has 25 employees handling both machining and texturing for molds, of which the largest can run on 1000-ton injection molding machines. IPM is located in a free trade zone, so no duties or taxes are added to material costs, and no duties need to be paid on molds shipped to the U.S.

IPM is a partnership between Bankier Companies Inc. (Niles, IL); Comet Die & Engraving Co. (Elmhurst, IL); and Plasticos Star (Alejuela, Costa Rica). Bankier is an injection molder serving the consumer, laboratory, electronics, and agricultural markets; Comet is a 110-yr old moldmaking company with 70 employees; and Plasticos Star is a Costa Rican injection and blowmolder of packaging, closures and consumer goods, based in San José.

“Customers will be pleased with the convenience of placing molds in Costa Rica, versus China,” said T.J. Donlin, COO of the new firm and president at family-owned Comet Die & Engraving Co., which will guarantee and support the molds made in Costa Rica. “U.S. customers can now buy competitively priced molds in Costa Rica through a company that understands the high-pressure, time-sensitive nature of the U.S. consumer market,” says Jack Bankier, CEO of IPM and owner and CEO of Bankier Companies Inc.—[email protected]