Industrial Molds Celebrates 50 Years in Business in 2018
Founded in 1968 by Jack Peterson, the company has enjoyed continued growth and success. Today, the Peterson family has three generations involved in the business.
Family-owned manufacturing company Industrial Molds Group celebrates 50 years in business this year. Founded in 1968 by Jack Peterson, the company has enjoyed continued growth and success. Today, the Peterson family has three generations involved in the business.
Industrial Molds is a manufacturer of injection molds used to produce plastic components for Fortune 500 companies in the medical, automotive and electronics industries and others. The company is known for its production facility, which uses the latest in automated work cells and computer-aided machining centers. The company employs 46 in various areas including computer-aided design, engineering, manufacturing, programming and administration.
Industrial’s sister company, Pyramid Plastics, is a custom injection molding business that produces millions of plastic parts annually for a range of customers. Over the past two years, Pyramid has invested over $1,000,000 in remodeling its production facility and upgrading equipment with purchases of new molding presses to create a manufacturing plant to accommodate growth.
Robotics have played an important role in expanding Pyramid’s production capabilities with the addition of two automated manufacturing cells to support high-volume molding for several customers. While robotics and automation play an important role in today’s manufacturing businesses, the company stresses the importance of a dedicated, capable work force. The company says that it is always looking for people interested in manufacturing who also want to learn about the growing plastics industry. The company says it recently raised its minimum wage to $12 an hour and encourages those in the Rockford, Illinois, area to come in and discuss employment opportunities.
Industrial Molds Group says it is proud of the success of both companies and says it looks forward to many more years of growth.
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