Tech Molded Plastics, Inc of Meadville, PA Announces a 38,800-sq ft Facility Expansion for Its’ Precision Molded Plastics Operation

Tech Molded Plastics, Inc. has acquired an adjoining facility formerly owned by Trojan, Inc., DIC Tool Division which almost doubles the company’s total footprint in the Meadville area to over 92,000 sq ft.

In 2010, Tech’s growth included over a million dollars in self-funded improvements in plasticizing technology, computerized monitoring of plastics processes, and training. The acquisition of the co-located production facility includes over 1.5 million dollars of additional improvements that is being funded locally. 

Tech plans to prep the expanded production space for specialized molding capabilities in a clean, climate controlled environment for precision medical, automotive, and electronics products including over-molding of close tolerance, thin wall connectors produced with high performance engineering grade resins. A corridor will connect the two buildings and serve as the primary gateway for efficient flow of finished goods. 

The company operates currently with 29 injection molding machines ranging in size from 40 to 309 tons. Two new high precision molding machines have been ordered and will arrive in a few weeks with 4-6 additional high precision molding machines added as the building is modified to support specially designed molding systems with cavity pressure sensing technology.

The family owned business currently employs over a hundred people with 28 full time employees added in 2010 with support from 35 temporary workers. With the facility expansion in place for 2011, Tech plans to add an additional 27 employees in the next few months and convert more temporary workers to full time by reducing short-term employment. 

Job opportunities are expanding as companies slowly build confidence. Although significant challenges remain, “I am cautiously optimistic,” stated Scott Hanaway, President/CEO of Tech. “There is a lot of uncertainty for sustainable economic recovery due to inflation, spikes in the resin markets due to foreign oil concerns and a number of legislative issues like pending tax hikes and healthcare requirements. The cloud of issues is a distraction from greater advances in hiring and reinvestment.”

Newly elected Pennsylvania Senator Pat Toomey visited Tech on February 22, 2011 to tour the high precision operation and discuss the economic and political conditions that have subdued the economy over the past few years. Hanaway expressed the sentiment that Tech, like many other manufacturing companies, has been actively recruited to relocate to other business-friendly states and low cost off-shore countries. “We are in a very challenging global economy with real people and real families that depend on stable sources of employment. This is our home and we are cautiously moving forward with strategic growth plans to reinvest in our community, our people and advanced technology in plastics processing. But, our elected officials need to remain focused on increasing America’s competitiveness in the world to create jobs at home.” 

Low debt, strong financials, and a commitment to reinvestment has been a founding principle of the company since its inception in 1973. “We have been fortunate to practice the basic concept of saving pennies during good times to support operations during extended periods of bad times,” said Scott. “We do no justice to our customers, our people, and ourselves if we extend debt, risk, and responsibility beyond our means.” 

The company was founded by William and Eva Hanaway with the drive for precision in mold building, custom molded plastics, and skilled people. Problem solving talent has grown the company from a garage shop to an international operation that ships products to countries across the globe. Learn more about Tech Molded Plastics, Inc. at www.ttmp.com.