PlastiCert achieves a major CapEx Goal
In December, PlastiCert took delivery of a new 260 Ton Milacron Injection Press. This press installation is the last step in a capital equipment improvement process that started over six years ago.
After the MBO at PlastiCert, first priority was to regain financial stability. The second step was to embark on a capital improvement plan that provided PlastiCert’s crack team the tools they wanted to be best in class.
PlastiCert laid the foundation for all this in 1997, being visionary in implementing and using an ERP system. Used extensively integrating finance and operations, prior to the MBO PlastiCert broadened the scope of ERP to include, production planning, purchasing, and supply chain management.
PlastiCert completed the financial aspects of step one. Then we executed a capex plan to replace the aging equipment in the tooling area and production floor.
PlastiCert’s 10 injection molding presses, all of them 30 years old or more, were systematically replaced. Addressed on an assessment of current status, critical mission use, and logistical support. In parallel, new machining centers and EDM were added to PlastiCert’s Mold Design and Development group. Capping it off was a new CMM for measuring and monitoring parts.
Today PlastiCert has nine injection molding presses ranging in tonnage from 55 to 500 tons. Our tool shop has two new machining centers, an EDM and multiple grinders and manual mills.
All of this was accomplished while taking on minimal debt, (when you are offered a 2% interest rate, you take it!) After millions of dollars in Cap EX and a building addition, our Current Ratio (a key liquidity metric showing a company’s ability to pay short-term debts that should never be below 1.0) is 3.25. Our Quick Ratio (a ratio above 1 is preferred, a ratio below 1 suggests difficulty paying short-term debts) is 16.36.
The end benefit of all this? PlastiCert is a four time Top Shop Awards winner from Plastics Technology Magazine. Our assessment of financial, operational, engineering, and HR operations was recognized as being one of the best in the world.
Think you need to deal with unfavorable terms from a large molder to get competence, security, and quality? Not true, PlastiCert has all those qualities and EXCELS at providing low and medium volumes for OEMs from coast to coast. Give PlastiCert a call, you will be happy you did!