That proverbial rising tide that lifts all boats? Contract manufacturer Plastic Molding Technology (PMT) is riding that wave. The company announced today that it has invested close to $1 million in new equipment this year to support new contract awards that will require additional capacity.
“Several of our customers are experiencing record growth within their respective industries to support infrastructure in the USA,” said PMT CEO and owner Charles A. Sholtis in a prepared statement. For its part, PMT is projecting a double-digit increase in sales this year. It’s putting that extra money to good use by investing in new injection molding machines and auxiliary equipment that will, in turn, support booming customer demand.
PMT has taken delivery of 10 new Maruka USA Toyo injection molding machines so far this year, including three 55-ton, four 110-ton, and two 200-ton presses. PMT also invested in its first injection molding machine under 40 tons, with a new Toyo 20-ton horizontal machine. The new investments will support key customers in the telecommunications, medical device, and electrical industries.
PMT also procured auxiliary equipment for the new presses, including several HY Robotics 3-axis robots and sprue pickers, Novatec dryers with central conveying systems, and conveyors with part separation. Two new Gorbel overhead crane systems will provide safe mold transport and set-up in the company’s white room space and on the plant floor.
PMT now has a total of 72 injection molding machines in its 60,000-square-foot manufacturing facility, and operates 24/7 in its strategic border location in El Paso, TX.