ATW Companies (Warwick, RI) continues to invest in equipment at Parmatech to boost its profile in the metal injection molding business, company officials told PlasticsToday.com in an interview. One goal is to continue expansion in medical and defense markets, which each make up about 40% of the company's total revenues.
Parmatech, a global pioneer in MIM in the early 1970s and still a leading technology developer, was acquired by ATW from Carpenter Technologies in 2003. In 2009, Parmatech acquired Proform from Morgan Ceramics and in 2010 moved the MIM assets from Massachusetts to a new plant in Rhode Island. "Our goal is to triple sales at the Proform location in 2012 which may move Parmatech from one of the biggest five metal injection molders (in total revenues) in the United States to one of the top three," says Tracy MacNeal, corporate director of business development at ATW, a privately held company that specializes in engineered metal solutions including MIM, stampings, tubing, laser fabrication, and CNC machining.
Focus on medical and defense
A corporate goal at ATW is to also continue the development of medical and defense segments as two primary pillar markets, says MacNeal, who recently joined the company. She had been Vice President of Business Development for Praxis Technology, a privately held medical devices company. "MIM is a very exciting technology which has now established itself as a mainstream metal fabrication technique," says Peter C. Frost, ATW president....