Business
CVG's AdvancTEK Continues to Grow in New Markets
New Business Wins Driving Expansion of Injection Mold Capacity and Capabilities NEW ALBANY, Ohio, Sept. 23, 2021 /PRNewswire/ -- CVG (NASDAQ: CVGI) announced
About this update from Commercial Vehicle Group, Inc.
[{"type":"text","content":"New Business Wins Driving Expansion of Injection Mold Capacity and Capabilities\n\n\nNEW ALBANY, Ohio, Sept. 23, 2021 /PRNewswire/ -- CVG (NASDAQ: CVGI) announced that its AdvancTEK division, one of North America's leading high-tonnage injection molders, is continuing to expand its injection molding capacity and capabilities by investing $5+ million in two additional state-of-the-art, 2500+ ton injection molding machines. This new investment is connected to new business wins in non-commercial vehicle markets. \nThe two new machines will go into AdvancTEK's 97,000 square foot, IATF 16949 certified Injection Molding Center of Excellence in Saltillo, Mexico, complementing the two other injection molding machines installed earlier this year. The plant is well-known in the industry as it has served world-class customers for decades. The plant offers a bi-lingual team and production solutions on injection molding presses ranging from 250 tons to 3500 tons. \n\nThe machines also align with AdvancTEK's aggressive productivity and sustainability goals through a combination of:\nhigh-efficiency processing, reduced energy consumption, and features to process recycled resins; significantly more energy efficient drives and actuation; and automated part removal, incorporation of fast tool changeover features, and integrated scientific molding capabilities. \"AdvancTEK is experiencing high growth through its deliberate efforts to enter new end markets, and has many additional new projects in the queue,\" said Don Fishel, SVP and Managing Director of CVG's Engineered Products Division. \n\n\"CVG is aggressively diversifying into non-truck markets and is having great success. This $5+ million capital investment continues the AdvancTEK commitment to industry leadership and enables us to continue growing in new non-truck markets. We have been doing this for decades in the truck markets, and now have turned our attention to new customers and new markets and we're having great success. Our experience and know-how are directly translatable and de-risk projects for discriminating customers. We provide our customers with state of the art product features and transportation industry quality regimens. AdvancTEK is underway with a multi-year agenda and this investment is a part of our plan.\" \nAdvancTEK's approach of providing complete design and product...