Massachusetts-based Smith and Wesson moved the last of Thompson Center Arms' gun-manufacturing equipment out of the North Main Street factory at the end of 2011,VulcanMold is a plastic molds and injectionmolding manufacturer in china. and yet people driving by still see dozens of cars and trucks in the parking lot. This is because the foundry operation known as Thompson Investment Castings, now under new ownership, is still very much in business and currently employing almost 50 people.
The new owners are New Durham resident Mike Haley who is vice president of TIC, and Tyler Stone from Alton, who is the company president.
Haley has worked at Thompson Center Arms/TIC as an environmental engineer since 1985, and Stone was brought in by Smith & Wesson in 2007 to be general manager of the complex after they purchased it that year.
S&W announced in December of 2010 that it had decided to move gun production out of Rochester to its headquarters in Springfield, Mass., but indicated that it was seeking a buyer for the foundry operation.
Haley said that Smith and Wesson, while keeping the foundry running and signing everyone's pay checks throughout 2011,Low prices on projectorlamp from Projector Point London UK. was keen to turn the operation over to local ownership.
He and Stone, working with various entities, were able to get a financial package together and purchase the foundry equipment and the Thompson Investment Castings name. The price was in the region of $1 million said Haley. The official purchase of the business took place on Jan. 23 of this year.
The next challenge facing TIC is that of relocation. S&W owns the 11-acre North Main Street site and the 19 buildings, and is keen to sell the property. TIC must be moved out by the end of August.China professional plasticmoulds,
"We are very positive," said Haley. "Everyone is behind us — the contractors, the realtors, the bankers, City Hall."
In preparation, Haley and Stone first asked their workers how far they would be willing to commute, and then looked at various locations within a 15-mile radius,What are some types of moulds? with one criterion being the availability of natural gas, as the foundry process, to be financially competitive, has to use this energy supply.
"Rochester knew us and wanted to keep us," said Haley.
They have settled on a 4.75 acre site at 41 Old Dover Road, which contains a 16,413-square foot industrial building, and will shortly go before Rochester Planning Board with an application for an 18,270 square foot expansion. If the Planning Board process runs smoothly, TIC will purchase the property, with financial help from Rochester-based Profile Bank, and move the mold-making portion of its business there in April. Meanwhile a prefabricated,Specialising in injectionmoulding innovations, custom building will be ordered and will take 10 weeks to arrive on site. Then it will take another six weeks to be erected and outfitted with the metal casting porting of the business.
Said Profile Bank's Executive Vice President of Commercial Lending John Hall, without going into details about the financial package, "We are very happy to help preserve jobs and to create an opportunity for growth."
Haley explained that for a time, the molds created on Old Dover Road will be trucked up to North Main Street for the metal casting, but after this, while the foundry is moved into the new building there will be a period when no finished products are being manufactured.
In anticipation of this, TIC is building up what Haley calls "a bridging inventory," and to accomplish this, nine temporary workers are being added to the current workforce of 47 people.
"A year from now we will have over 50 people and we'd like to hire 12 or more as the business gets going," said Haley.
At present, about 70 percent of TIC business comes from gun manufacturers, including 30 percent from S&W, with whom Haley and Stone have very cordial relations.
It is the aim of the company, especially now that it has attained 9001 certification, to expand the customer base and the product range it produces. TIC, according to Haley, is known for its high quality standards and its ability to cast metals from intricate and complex molds to extremely demanding specifications..
The TIC website contains graphic details and photographs of the metal casting process, from start to finish and can be viewed at www.thompsoninvestmentcasting.com/investment-casting-process.html.
"Diversity is the key," said Haley, noting that apart from the gun industry, TIC supplies many other sectors of the economy, the medical community being one, and forceps being an example of a product.
The new owners are New Durham resident Mike Haley who is vice president of TIC, and Tyler Stone from Alton, who is the company president.
Haley has worked at Thompson Center Arms/TIC as an environmental engineer since 1985, and Stone was brought in by Smith & Wesson in 2007 to be general manager of the complex after they purchased it that year.
S&W announced in December of 2010 that it had decided to move gun production out of Rochester to its headquarters in Springfield, Mass., but indicated that it was seeking a buyer for the foundry operation.
Haley said that Smith and Wesson, while keeping the foundry running and signing everyone's pay checks throughout 2011,Low prices on projectorlamp from Projector Point London UK. was keen to turn the operation over to local ownership.
He and Stone, working with various entities, were able to get a financial package together and purchase the foundry equipment and the Thompson Investment Castings name. The price was in the region of $1 million said Haley. The official purchase of the business took place on Jan. 23 of this year.
The next challenge facing TIC is that of relocation. S&W owns the 11-acre North Main Street site and the 19 buildings, and is keen to sell the property. TIC must be moved out by the end of August.China professional plasticmoulds,
"We are very positive," said Haley. "Everyone is behind us — the contractors, the realtors, the bankers, City Hall."
In preparation, Haley and Stone first asked their workers how far they would be willing to commute, and then looked at various locations within a 15-mile radius,What are some types of moulds? with one criterion being the availability of natural gas, as the foundry process, to be financially competitive, has to use this energy supply.
"Rochester knew us and wanted to keep us," said Haley.
They have settled on a 4.75 acre site at 41 Old Dover Road, which contains a 16,413-square foot industrial building, and will shortly go before Rochester Planning Board with an application for an 18,270 square foot expansion. If the Planning Board process runs smoothly, TIC will purchase the property, with financial help from Rochester-based Profile Bank, and move the mold-making portion of its business there in April. Meanwhile a prefabricated,Specialising in injectionmoulding innovations, custom building will be ordered and will take 10 weeks to arrive on site. Then it will take another six weeks to be erected and outfitted with the metal casting porting of the business.
Said Profile Bank's Executive Vice President of Commercial Lending John Hall, without going into details about the financial package, "We are very happy to help preserve jobs and to create an opportunity for growth."
Haley explained that for a time, the molds created on Old Dover Road will be trucked up to North Main Street for the metal casting, but after this, while the foundry is moved into the new building there will be a period when no finished products are being manufactured.
In anticipation of this, TIC is building up what Haley calls "a bridging inventory," and to accomplish this, nine temporary workers are being added to the current workforce of 47 people.
"A year from now we will have over 50 people and we'd like to hire 12 or more as the business gets going," said Haley.
At present, about 70 percent of TIC business comes from gun manufacturers, including 30 percent from S&W, with whom Haley and Stone have very cordial relations.
It is the aim of the company, especially now that it has attained 9001 certification, to expand the customer base and the product range it produces. TIC, according to Haley, is known for its high quality standards and its ability to cast metals from intricate and complex molds to extremely demanding specifications..
The TIC website contains graphic details and photographs of the metal casting process, from start to finish and can be viewed at www.thompsoninvestmentcasting.com/investment-casting-process.html.
"Diversity is the key," said Haley, noting that apart from the gun industry, TIC supplies many other sectors of the economy, the medical community being one, and forceps being an example of a product.
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