In response to growing customer demand in our global medical device and drug delivery business, we are expanding and upgrading our tooling facility in Vermont with additive manufacturing technology. We have renovated and enhanced our state-of-the-art tooling facility in Royalton, Vermont, and purchased advanced metal 3D printing equipment to build precision mold components.
We have invested in metal 3D printing technology for conformal cooling to improve cycle times – in some cases up to 30% – as well as component quality and design flexibility. GW is one of only a handful of precision mold builders that have invested in this technology. We invested over $2M in our Royalton mold-building facility in the last 12 months to support our R&D and expansion efforts.
This announcement comes months after GW’s purchase of Avenue Mould Solutions, an Ireland-based premier precision mold-building, machining, and injection molding company. This acquisition gives our company a unique industry position with precision mold-building facilities in North America, Asia, and Europe, in addition to injection molding and contract manufacturing. GW Plastics now ranks as one of the plastic industry’s largest manufacturers of precision molds.
More importantly than just having advanced tooling capability, we now have the global capacity to handle large-scale programs, including ultra-high-cavitation, multi-component, and silicone mold-building for our multi-national customers.