Continuing its aggressive plans to increase capacity, Brampton, Ontario–based StackTeck will invest $4.2 million in 2016 on new machinery and automation throughout the company's manufacturing and testing facilities. This latest planned investment comes on the heels of a $4-million investment in new equipment in 2015. During both years, the rate of capital spending is more than double that of pre-2015 levels.
"We plan to invest over $4.2 million in new machine tools within a time window of less than 12 months, which will allow us to ensure strong support for our customers' new product launches," stated Lou Dimaulo, StackTeck's Vice President of Operations. "We have implemented a new scheduling system in the central areas of our manufacturing facility, so that we can keep close control of the new jobs that are brought into the manufacturing floor. New machines and robotics will add productivity throughout the plant, allowing us to get work done more efficiently and effectively."
StackTeck also has made significant building upgrades and has estimated a total 15% capital increase of machine resource hours for 2016. In order to complement the capacity additions, StackTeck will be adding new team members to their night and weekend shifts during the first quarter of this year.
StackTeck specializes in manufacturing high-volume, high-speed molds, both stack and single-face molds, for the packaging market. The company has developed unique technologies for the packaging industry, including the TRIM thinwall packaging system. Other markets served include the cap and closure market and the medical and labware markets. StackTeck provides complete systems integration solutions that include automation, mold and molding presses delivered in a turnkey system.
Randy Yakimishyn, President and CEO of StackTeck, commented: "Our capacity has been substantially increased in the last few years. Since 2011, our average yearly sales growth has been 7.5%, and we are now positioned to grow much more rapidly. We also have the resources available to deliver on large mold programs while improving our overall lead times."