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Covestro reports 66.5% EBITDA growth in 2017 first quarter

Source: CPRJ Editorial Team ▲ CEO Patrick Thomas (left) and Supervisory Board Chairman Dr. Richard Pott at Covestro's Annual General Meeting. Covestro followed up its success last year with a strong first quarter in 2017. The Group's core volumes increased 9% and at €846 million, EBITDA was up 66.5% over the prior year period. Net income also rose by 157.1% to €468 million, compared with €182 million in the first quarter of 2016. "The high demand for our products indicates that innovative plastics play an important role in mastering the challenges posed by global megatrends such as urbanization, climate change, or the evolution of mobility. The proof is our strong volume growth and resulting improved earnings in all segments," said Covestro CEO Patrick Thomas. "We continue our positive momentum and deliver an EBITDA improvement Year on Year (YoY) for the 9th consecutive quarter. For the remainder of this year we remain optimistic and thus have raised our forecast." Based on the first quarter's positive business performance, Covestro has adjusted the forecast given in the 2016 Annual Report for the full year 2017. The company still expects core volume growth in the low-to-mid-single-digit percentage range. It now anticipates free operating cash flow significantly above the average of the last three years. Moreover, Covestro now expects return on capital employed (ROCE) to significantly exceed the 2016 level. In 2017 first quarter, core volumes in the Polyurethanes segment rose 6.8% YoY. All product groups, particularly MDI and TDI, contributed to this increase. The key driver was greater demand from the global construction sector as well as from furniture and mattress industry in the NAFTA and APAC regions, according to the company. In light of the market demand development in this segment, Covestro decided to continue production of the rigid foam precursor MDI in Tarragona, Spain. At the same time, it is working on converting a plant in the Northern German town of Brunsbüttel. The company expects to double MDI production capacity there to approximately 400,000 metric tons in the course of 2018. The Polycarbonates segment also once again recorded strong growth of 14.7% YoY in core volumes. The volumes sold in all three regions climbed, mainly because of greater demand from the automotive and electrical & electronics industries. Covestro doubled its polycarbonate production capacity in Shanghai to nearly 400,000 metric tons per year in 2016. With a total annual production capacity of around 1.5 million metric tons, the company is now the world’s leading producer of this high performance plastic. Core volumes in the Coatings, Adhesives, Specialties segment increased by 8.1% as against the prior-year quarter. Significant volume growth was reported particularly by the APAC and EMLA regions. Last year, Covestro commissioned a world-scale plant for raw materials for coatings in China. In contrast to the other two segments, prices of Coatings, Adhesives, Specialties on average remained at the previous year's level. https://www.adsalecprj.com/Publicity/MarketNews/lang-eng/article-67026459/tc-en_CPRJ_EN_20170510/NewsArticle.aspx

Ms. Kang 2017-05-15

Littlestar expands to meet demand for molding high-performance polymers

By Michael Lauzon ▲ Phil Preston, founder and owner of Littlestar Plastics, in front of one of three new molding presses that allows Littlestar to injection mold high-end polymers such as PEEK and Torlon into components up to two pounds. Littlestar Plastics Inc. is investing to strengthen its niche as an integrated manufacturer of large technical components from high-performance polymers. The Machesney Park, Ill., company has installed new injection presses, more CNC machining equipment and testing equipment. Littlestar founder Phil Preston said his company has spent more than $750,000 in the past three years on the various programs. He said in a phone interview that his firm’s vertical integration is a good business model in the competitive injection molding market. “You can’t just stand there and shoot and ship parts,” Preston said. Littlestar focuses on difficult jobs, many of them in aerospace where the company can get in the ground floor in new aircraft designs, using machining to create prototypes that then could become injection molded components. The company can ramp up production from a prototype to production runs of 250,000 parts. Preston said Littlestar’s annual sales are between $10 million and $20 million. Littlestar engineer Wray McKenzie said the firm regularly works with such high-performance resins as polyamide-imide, polyetherimide and polyetherketone. In fact, he was one of the pioneers in processing polyamide-imide when he was employed with Amoco, developer of the resin some 40 years ago. (Solvay now makes and markets Torlon brand polyamide-imide.) In the past six years since he joined Littlestar, he has been applying that experience to Littlestar’s work on parts as large as two pounds from polyamide-imide and its engineering polymer cousins. With his background as an engineer, Preston founded his company in 1991 as a machine shop but he soon branched into plastics. One of his early customers needed a plastic part machined on a tight deadline. No plastics company was interested in the job but Littlestar took it on and delivered the part on time. Now Littlestar makes and assembles components worth as much as $5,000 per unit in aerospace applications. Preston said his firm can machine parts that are near-net shape out of the injection press for prototypes and short production runs. This ability to use a combination of machining and injection molding makes Littlestar unusual among custom molders. It helps land the company new business such as making prototype parts for new commercial aircraft before they enter flight testing. Customers in demanding industries such as aerospace, food service and medical “have no preference on how to make parts,” he explained. “We push the process from one piece to production,” Preston added. Littlestar runs 13 injection presses with clamping forces ranging from 40 to 360 tons. In the past year it installed five Nissei presses with servo-controlled hydraulic technology to allow high-pressure, high velocity molding. The new presses feature tight process control to ensure consistent packing and holding at high pressures. Littlestar operates 17 CNC machining centers, including four-axis and five-axis vertical mills, with 120 tools. It does assembly, fabrication and ultrasonic welding, and can check results with an array of inspection equipment. Preston said his firm hasn’t hired a sales force because it gets work mainly by word of mouth, backed by its engineering staff. He said Littlestar’s sales have grown each year, even during recessions in 2001 and 2009. Growth probably will spur the company in the next year to nearly double floor space from the current 30,000 square feet. Littlestar boasts that its parts are found in nearly every airplane recently built in the western hemisphere. Specialty parts such as a molded/machined robotic drink-filling arm are found on numerous food service machines such as fast food ice cream dispensers. Other key markets are medical and off-road transportation. The company is ISO 9001 and AS 9100 certified. Preston said Littlestar’s new injection presses were bought partly to supply a new aerospace program and they have unused capacity to make parts about twice as big as the firm was able to handle before expansion and upgrading. http://www.plasticsnews.com/article/20170414/NEWS/170419955/littlestar-expands-to-meet-demand-for-molding-high-performance

Ms. Kang 2017-05-15

Custom molders partnering with medical device OEMs face unique set of challenges

By: Clare Goldsberry in PLASTEC New England, Injection Molding, MedicalOne of the problems confronted by medical device OEMs is sourcing custom injection molders who meet ISO 13485 and FDA manufacturing standards. H. David Shockley Jr., founder and CEO of International Biophysics Corp. (IBC; Austin, TX), knows this firsthand. His company, which develops and manufactures surgical and respiratory care products, installed internal captive molding facilities to ensure that its operations are able to meet increasingly stringent ISO and FDA audits. Sensing a need, the firm recently began offering its molding services on a contract basis to other medical device OEMs. Back in 1992 when he founded IBC, neither the FDA nor Notified Bodies in the European Union required much auditing of a medical device OEM’s vendor base, recalled Shockley. “The word validation of molded parts rarely came up in audits,” he explained to PlasticsToday in a telephone interview. “It became a big issue about 15 years ago, and today vendors have to meet the same regulations as medical device manufacturers. Auditors can issue regulatory actions if vendors are out of compliance, and even 100% inspection may not catch all the defects. “The FDA and Notified Bodies are absolutely auditing medical device vendors, including custom molders, requiring them to prove they have the systems in place that allow them to sell these devices to the OEMs,” Shockley said. “But many times these vendors can’t because they don’t have the system set up, and the difference in the depth of the audits being done today versus 15 years ago is huge. Medical device companies come to us with supply chain problems because their vendors are unable to pass these audits. They tell me, ‘We have a massive vendor problem! This is not about cost—help us! Can you take our molds immediately and fix our problem before our product line is shut down?’” H. David Schockley Jr. will address issues surrounding medical molding at PLASTEC New England, the region’s largest plastics industry event, which comes to Boston on May 3 and 4. His free presentation, “Quality/regulatory headaches with your custom molder: Real solutions from real experience,” is scheduled for May 4 at 12:30 PM at the Tech Theater (booth 157). Go to the event website for more information and to register to attend. Shockley explained that reject rates have to be audited where the product is made—at the molder’s facility, not at the OEM’s plant—and today they look at vendors just as closely as they do the OEM. “You have to list all your vendors, and the auditors can go to them because they know that’s where the problem typically originates,” said Shockley. “Everyone, including foreign molders, have to meet the same standards now. It can be very tough if you don’t have the right equipment and systems in place.” Additionally, it is not about whether the components are molded domestically or at a foreign plant, but whether the vendor can properly document its manufacturing process to meet regulations and validate not only the product itself but the molding machine and the production process. “It’s about the individual factory, the systems, the equipment, when the machine was last calibrated, if processes are validated, whether the maintenance records are up to date... the list goes on,” said Shockley. That’s why IBC built its own internal captive molding facilities to make Class 1, 2 and 3 products. About five years ago, the company opened its molding operations to custom work for other medical device OEMs. “There are not that many medical device companies that do their own molding and will do it for other companies, too,” Shockley commented. “One hundred percent of our new business has come from taking on molding work from medical device OEMs that have problems with their custom molding vendors. Our customers want a medical device OEM that does its own molding so they can rest assured that all the systems in place can pass ISO 13485 and FDA audits. We’re not just a custom molder—we make our own line of medical products and have done so for 25 years," said Shockley. https://www.plasticstoday.com/injection-molding/custom-molders-partnering-medical-device-oems-face-unique-set-challenges/3935811456597

Ms. Kang 2017-05-12

Sepro starts making linear robots for Milacron in Europe

▲ Milacron standard linear robot integrated with an injection molding machine. Milacron Holdings Corp. and Sepro Group have announced a deal in which Sepro will manufacture 3 and 5-axis robots to be sold with Milacron injection molding machines throughout Europe. The agreement is similar to one signed in 2010 that has seen Sepro robots sold under the Milacron brand in the United States, Canada and Mexico. The partnership has already started in Europe and more than 15 linear robots have been sold under the agreement to customers in Germany, Portugal and elsewhere. All linear robots are marketed under the Milacron brand name to equip its full range of injection molding machines. Milacron is handling aftermarket service with support from Sepro, particularly during the early stages of the relationship. Denis Poelman, managing director of Milacron’s injection molding machinery business in Europe said: “The Sepro robotic systems are ideally suited for all of Milacron’s machine series and perfectly adapt to our customer’s needs. All platforms are offered under the name of Milacron Standard Linear Robot for Pick and Place Applications and Milacron Performance Linear Robot for High End Applications. The new robot portfolio can handle weights from 3 to 60 kilograms.” Jean-Michel Renaudeau, CEO of Sepro Group, said: “Of course, several molding machine manufacturers have sold injection molding machine/robot packages for years and they are quite popular, especially in countries like Germany and for global companies buying equipment for plants in other parts of the world. Others prefer to buy their injection molding machine from one company and their robot from another and we offer them our support too. So, today, we offer molders new choices.” Milacron said that, as part of its strategy for offering integrated automation with its machines, it is planning further industrial robot technology platforms from Kuka, ABB, Fanuc, Yaskawa and Stäubli to be available from Milacron in the near future. Milacron is based in Blue Ash, Ohio. Sepro is based in La Roche sur Yon, France. http://www.plasticsnews.com/article/20170407/NEWS/170409930/sepro-starts-making-linear-robots-for-milacron-in-europe

Ms. Kang 2017-05-12

Oregon's Elite Plastics adding capacity for growing markets

▲ Elite Plastics engineering manager Bruce Wold displays two-up in-mold-decorated polycarbonate user interface control panels for a breast pump.Beaverton, Ore. — Elite Plastics is adding injection molding presses and advanced laboratory equipment. “We are expanding a lot for us” and adding technologies, Dan Thurmond, president, said in a phone conversation. Elite Plastics in Beaverton is a division of Seattle-based GM Nameplate Inc. “We are getting to a point where GM Nameplate is becoming our biggest customer” with certain molded or overmolded parts going to another GM division for assembly, Thurmond said. Elite Plastics capabilities include an automated six-axis paint line, an automated assembly line, computer-numerical-control pad printing, hot stamping, screen printing, three-dimension laser scanning and plastics machining. Beginning in November, Elite took delivery of five Arburg single-shot all-electric presses: two of 110 tons and one each of 44, 66 and 165 tons. Each molding machine came with a full robotic system and auxiliary dryer and die heater systems, Elite Plastics engineering manager Bruce Wold said during a plant interview and tour. Currently, Elite operates 26 presses of 44-600 tons including 14 Arburgs, nine Milacrons, two Nisseis and one vertical JSW. In addition, Elite has a pending order for a two-shot 440-ton Arburg hydraulic that is expected to be operational in June. Elite operates six robots on the production floor for part removal and secondary operations and two other robots for three-axis pick-and-place assembly tasks. Key marketsElite’s end markets include medical, aerospace, defense, automotive, industrial and electronics. Medical is the “bread and butter” representing about 70 percent of sales, Wold said. Here are examples: • Infusion pumps for a well-known medical supplier. Heat staking is used. Three cameras optically verify the correct positioning of threaded screw inserts.• A portable field unit for first responders to check a person’s vital statistics or signs.• A large dialysis machine for in-home use. The Milacron 600-ton press molds the housing.• A threaded-through-the-groin trans-catheter mitral repair therapy enabling the application of a clip on a heart valve.• An in-mold decorated PC user interface control panel for a breast pump. A 220-ton Arburg molds the panel two up, and a Haas computer-numerical-control mill does the trimming. Elite began marketing to the aerospace industry in 2012 with that niche accounting for 3 percent of sales in 2013. Parent firm GM Nameplate started supplying aviation-giant Boeing Co. in 1954. “Our quality systems and strict protocols for validation and qualification are framed around medical requirements and have made the adoption of aerospace growth fit nicely for us,” Wold said. Elite was certified under AS 9100C standard for the aerospace industry in December 2015, and now aerospace represents about 10 percent of sales. “We won a nice program using 12 molds for cosmetic seatback components for a 737 supplier,” Wold said. Other aircraft work from OEM suppliers includes cosmetic row markers for use in the Boeing 787 and use of Radel-brand polyphenylsulfone for molding high-end toilet seats for the Airbus 350. Elite makes multiple automotive components for Tier 1 and 2 suppliers. The largest volume is for a shift indicator with an acrylic panel. A Fanuc America Corp. model P-250i robotically paints the product, which also undergoes laser etching. A three-axis Denso Corp. robot inserts a PC-film applique. The end assembler is a Japanese auto maker. New capabilitiesFor use in April, Elite is installing a unit from Rofin-Sinar Laser GmbH of Bergkirchen, Germany, for the online laser etching of polymers as an alternative to pad printing. Currently, Elite operates two other laser systems. In January, Elite’s quality engineering laboratory began operating an $85,000 seven-axis Faro Edge scanner with a nine-foot spherical working volume for reverse engineering. The scanner sits on a $3,700 bench. The manufacturer, Faro Technologies UK Ltd., is based in Rugby, England. For measuring, the lab uses a new laser scanner from ViewSonic Corp. of Taipei, Taiwan. Regarding Elite’s ISO 13485 initiative underway since 2014, “we completed our audit in early March and have been recommended for certification,” Wold said. “We should have the cert in a couple months.” The ISO 13485 standard applies to quality management systems for medical devices. ProgressionThurmond and Egon Steinborn founded Danegon Plastics in Hillsboro, Ore., in 1985 in a 1,500-square-foot space, and built a business that included GM Nameplate as a customer. GM Nameplate was producing logos and nameplates from sheet plastic or sheet metal, Thurmond recalled. “Then GM’s big customers for plastics, like HP, wanted a less expensive product. GM came to us. A year later, they wanted to buy us.” The transaction occurred in 1992. GM renamed the business as the Elite Plastics division and moved it to a larger facility in Beaverton. Initially, the division was supplying 10 percent of its molded product internally to other GM Nameplate divisions. Today. Elite Plastics supplies about 50 percent of its value-added plastic molding to other GM divisions for further electronic value-added assemblies and produces the remainder in custom work for other customers. The 1992 change of ownership “opened a tremendous number of doors for us” at major publicly traded corporations, Thurmond said. “It pushed us to where we had 10 molding machines. We came to customers with new ideas” such as in-mold decorating of plastics or metals. “We could bring them things in which they are interested,” he noted. “Sometimes, our customer base does not know our new thoughts.” Currently in Beaverton, Elite occupies 45,000 square feet including 15,000 square feet that Elite might convert to manufacturing space. Now, that area is devoted to material storage and warehousing. At a separate location in 2014, Elite began leasing and will continue to use another 15,000 square feet for warehouse purposes. Demonstrating resourcefulness, Elite buys components and, in-house, builds a significant amount of its automation capabilities including customized devices for secondary milling functions. Elite Plastics had 2016 sales of $21.9 million and projects a 10 percent increase during 2017. Elite has 128 full time employees and another 22 temporary workers. “We use more temps as the jobs require,” Wold said. He joined Elite Plastics in 2003 and has held positions as program manager, plant manager and, since 2009, engineering manager. To accommodate growth, Elite is recruiting talent in program management, quality engineering, production management and business development. GM Nameplate focusVertically integrated GM Nameplate with its divisions is gravitating away from the original nameplate and label lines and toward more work as an electronics contract manufacturer, Wold said. In addition to Elite Plastics, other GM Nameplate divisions are in Seattle; San Jose, Calif.; Monroe, N.C.; Singapore; and Dongguan, China. Work includes the liquid optical bonding process and production of cap/sense/touch capacitors for activating switches. Elite in Beaverton supplies some of the housings and components. On other work, Elite molds parts and both clear- and spatter-coat paints 7-inch and 10-inch versions of PC/ABS touch screens for a major agricultural equipment maker. GM in a Seattle facility completes and ships each unit to the OEM. http://www.plasticsnews.com/article/20170405/NEWS/170409955/oregons-elite-plastics-adding-capacity-for-growing-markets

Ms.Kang 2017-05-12

A heavyweight for the Lightweight Construction TechCenter from KraussMaffei

– The new MX SFT mold carrier supports development, prototyping and production of fiber-reinforced plastics– A wide range of applications, particularly for RTM processes – High locking forces, precision and fast run times ▲ The new MX mold carrier, in the Lightweight Construction TechCenter, proves that KraussMaffei continues to be a leader in development of fiber-reinforced plastics▲ The new MX mold carrier is ideal for all common RTM processes, including open injection of the matrix material in wet molding using an industrial robot and wide mouth nozzle (shown in the picture above)(Munich, May 3, 2017) KraussMaffei Reaction Process Machinery has expanded its TechCenter for lightweight components and fiber composite technology at the Munich location with the addition of a new MX SFT mold carrier. The new mold carrier, which boasts a clamping force of 8,000 kN, features very high locking forces and fast run times. Customers and processors benefit from high precision and flexibility when using a wide variety of materials and processes, especially fiber-reinforced plastics.High demand"Demand for new fiber-reinforced composites is unhindered. The addition of the new mold carrier to our TechCenter provides our customers with optimum prerequisites for developing and testing processes and solutions tailored to series production," says Stefan Ehrlicher, Head of the RPM (Reaction Process Machinery) TechCenter at KraussMaffei. For example, the new MX SFT mold carrier is ideal for the entire range of RTM processes (resin transfer molding), such as High-pressure RTM (HP-RTM), Compression RTM (C-RTM), Surface RTM (S-RTM), Thermoplastic RTM (T-RTM) and even Wetmolding. "Even OEMs and tier 1 suppliers outside of the automotive industry utilize the unique options for prototype development and proving in our TechCenter," adds Ehrlicher.Thanks to easy-to-use metering machines, the new mold carrier can be combined with almost all of the available metering machines in the KraussMaffei TechCenter. An epoxy RTM machine is permanently installed in combination with a release agent unit and an industrial robot for open injection (Wetmolding).Four-column concept for extremely heavy moldsThe high positioning accuracy and bending stiffness provided by the four-column concept makes it possible to use molds suitable for series production to manufacture structural or surface parts in single cavities or multiple cavities. This considerable holding force in the mold carrier system is made possible thanks to hydraulic locking cylinders over the entire press stroke. The use of differential cylinders ensures extremely short cycle times and very high speeds. At the same time, the SFT design concept from KraussMaffei guarantees a perfect power flow and a high level of stiffness (FEM-optimized).The most versatile TechCenter in the worldThe KraussMaffei TechCenter in Munich boasts a combination of systems and processes for reaction and injection molding machinery that is unlike anything else in the world. More than 25 systems and machines are available in a 4,000 m² area for in-house testing purposes and for customers who want to test, optimize or further develop their processes on experimental machinery or initial prototype components in a real-world environment. KraussMaffei continues to be a leader in development, particularly in the area of fiber-reinforced lightweight construction. In terms of reaction process machinery, this includes the wide array of RTM processes, pultrusion and the LFI process (long fiber injection) and for injection molding machinery, the FiberForm process (thermoforming organic sheets). The KraussMaffei TechCenter also offers demonstrations of a wide array of surface technologies, including the ColorForm process or CCM (clear coat molding). Even traditional RIM (reaction injection molding) or R-RIM (reinforced reaction injection molding) foaming technologies can be run in the TechCenter.A drone flight at the following link takes you on a virtual tour through the KraussMaffei TechCenter for Reaction Process Machinery www.kraussmaffei.com

Ms. Kang 2017-05-12

Meet Sacmi CCM, a leading processing technology for coffee capsules

Source: CPRJ Editorial Team Sacmi has developed a complete array of coffee capsule manufacturing solutions, with total running/management costs (TCO, total cost of ownership) that are said to be the lowest in the industry.▲ The technological core of the solution is Sacmi's CCM (continuous compression molding).The technological core of the solution is the continuous compression molding (CCM), the Sacmi compression press that, with just 32 cavities, lets manufacturers produce ultra-light capsules with superior quality/seal characteristics at speeds of up to 800 units/minute.Energy savings can top 30% compared to the alternative injection technology (thanks to the special, low-temperature extrusion process), according to Sacmi. The result is a combination of high productivity and the shortest cycle times in the industry (2.4-3.2s).Another key advantage is that with compression, each cavity can be managed independently. This possibility, exclusive to this technology, is a huge plus when it comes to both maintenance and quality control; the latter is also aided by the integration of Sacmi vision systems which operate in-line and at high speeds, allowing real-time identification of faulty capsules (and the relative cavity number to ensure immediate identification of the origin of the defect).Being able to process the material at lower temperatures and handle the plastic in a more viscous state has allowed Sacmi to develop applications for special, compostable materials, all against a TCO (total cost of ownership) that is at least 10-15% less than that of alternative solutions.Moreover, Sacmi provides support for closed systems (proprietary capsules) and open systems (i.e. the compatible pods that are steadily gaining more and more ground on the market). Through Sacmi Filling, the Group also offers complete development of capsules thermoformed with form-fill-seal technology.Market analysis suggests coffee capsule will account for over 75% of overall growth on the world coffee market from now until 2020. ▲ Over 30 billion plastic capsules are sold in a year. The solution will account for over 75% of overall growth on the world coffee market from now until 2020.https://www.adsalecprj.com/Publicity/MarketNews/lang-eng/article-67025982/tc-en_CPRJ_EN_20170329/NewsArticle.aspx

Ms. Kang 2017-04-07

Milacron/DME to consolidate mold base manufacturing to ‘new world class’ Greenville plant

Written by Joe Boomgaard GREENVILLE — A Pennsylvania plant closure could translate into growth in West Michigan for a global plastic injection molding supplier. Earlier this month, Madison Heights-based DME Co. and parent company Milacron Holdings Corp. (NYSE: MCRN) detailed plans to consolidate its mold base manufacturing to a “new world class” plant in Greenville, Mich., located northeast of Grand Rapids.Cincinnati-based Milacron will close its DME Youngwood plant southeast of Pittsburgh and move its operations to Greenville later this summer, according to a statement from the company.DME President and General Manager Pete Smith said company wants to consolidate to one plant to “direct our investment funds to build a new world class site at Greenville,” which currently makes quick-change mold frames and mold insert systems.DME, formerly Detroit Mold Engineering, made metal mold bases at the Youngwood plant for use in the plastic injection molding industry. The move is expected to affect 63 people at Youngwood, which “was no longer able to compete cost effectively,” according to Smith. The company will help some interested Youngwood employees relocate to work at other Milacron sites “where possible.”In the statement, the company said it plans to update the Greenville facility, located at 1117 Fairplains St., although it did not specify its level of investment. Milacron Director of Marketing and Communications Michael Ellis declined to provide any additional information on Smith’s comments. “This facility will incorporate the latest state of the art manufacturing processes and, together with its location, it will be ideally positioned to service customers throughout North America,” Smith said in a statement, referring to the Greenville plant.West Michigan has one of the highest concentrations of tool and die makers in the country. According to the U.S. Bureau of Labor Statistics, the industry is nearly 7.5 times more concentrated than normal in the Grand Rapids-Wyoming metropolitan statistical area. The companies in the MSA pay an annual mean wage of $48,410.According to data from The Right Place Inc., a regional economic development group, 130 tool and die shops operate within a 75-mile radius of Grand Rapids. They employ more than 4,300 people in the region, and hired nearly 800 workers between 2011 and 2016.Most tool and die companies in the region supply automotive and furniture manufacturers, according to the data.A spokesperson for The Right Place declined to comment on whether the agency was working with Milacron around the company’s plans for Greenville.Milacron generated nearly $1.2 billion in sales for the full year in 2016 and had operating earnings of $105.6 million, or 43 cents per diluted share, according to an statement issued last month. The company had $130.2 million in cash on its balance sheet as of Dec. 31.In providing guidance for 2017, Milacron said it expects flat sales to growth of 2 percent, according to its earnings statement. It also plans to commit around $50 million in capital expenditures during the year.https://mibiz.com/item/24650-milacron-dme-to-consolidate-mold-base-manufacturing-to-%E2%80%98new-world-class%E2%80%99-greenville-plant

Ms. Kang 2017-04-07