We see excellent growth prospects, not only in the U.S. but internationally as well, especially in Asian markets where we already have customer and sales.
Lancaster, Ma (PRWEB) April 11, 2013
Built-Rite Tool and Die has recently announced a 5,000 square foot expansion to its 17,900 square-foot manufacturing facility in Lancaster, Massachusetts. Built-Rite , a custom mold making and design firm in Lancaster, and its molding divisions, Reliance Engineering and LSR Engineering, said the expansion will result in the creation of eight jobs bringing total employment to 70 people. MassDevelopment has provided a $500,000 loan and worked closely with the company’s current lender, TD Bank, in order to fund the entire cost of the project for Built-Rite.
“At Built-Rite Tool & Die and its molding divisions, Reliance Engineering and LSR Engineering, we serve a variety of industries ranging from aerospace to biotechnology to medical devices. In each instance, we provide a highly engineered customized solution for our customers. We see excellent growth prospects, not only in the U.S., but internationally as well, especially in Asian markets where we already have customers and sales,” said Built-Rite Tool & Die President Craig Bovaird. “With the 5,000-square-foot addition to our facility financed by MassDevelopment, we are well-positioned to seek growth opportunities in the global marketplace.”
Since 1984, Built-Rite has provided highly engineered products such as tools, dies, and molds for original equipment manufacturers. The company is one division of an integrated plastics technology company that includes Reliance Engineering and LSR Engineering. In conjunction with its other divisions, Built-Rite provides conventional injection molding operations, as well as more advanced manufacturing using compression molding and transfer molding of high temperature thermoset materials and specialized custom molding of liquid silicone rubber. The company also recently completed a 5,000 square foot addition last year to increase tooling operations.
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2012, MassDevelopment financed or managed 280 projects generating investment of more than $2.3 billion in the Massachusetts economy.
For more information visit http://www.builtrite-reliance.com