Regal Cutting Tools is meeting fast-growing demand for its high-speed steel and carbide taps with the expansion of manufacturing capabilities in both its Roscoe, IL, and Loris, SC, plants, the company said.
Richard Hartnett, Vice President & General Manager, said, "Accelerated business growth and growing demand from new and existing customers for high speed steel and carbide taps has necessitated an aggressive investment in our existing manufacturing operations. The expansion of equipment includes CNC thread grinding, CNC flute grinding, large diameter milling machines, four robot loading machines and an additional four machines with manual operation. Expenditures in modern leading-edge equipment valued at $4,000,0000 are an investment that will increase production by an additional 30 percent."
The equipment will be fully operational during the second quarter of 2012. Between eight and 12 new personnel will be added to facilitate this expansion.
Regal acquired Premier Cutting Tools, a domestic manufacturer of high-speed steel and cobalt end mills in September 2011. This business has now been incorporated into the Regal manufacturing operation in Roscoe, IL. Warren Ludvigsen, National Sales Manager, said, "This acquisition has been expanded to provide our distributors a complete offering manufactured to National Aerospace Specifications (NAS)."
"Our commitment to growing U.S. manufacturing operations is exciting," said Barney Conway, Vice President, Sales & Marketing. Conway, with more than 40 years experience in the cutting tool industry, recently came out of retirement to refocus Regal's sales and marketing efforts. "We have made significant investments with the approval of our parent company YG-1...and have increased our workforce by 34 in Roscoe, IL, and Loris, SC, over the past year."
"These capital investments to increase capacity will ensure that Regal Cutting Tools continues to grow as a complete supplier of industrial cutting tools selling to industry through industrial distribution," said a company spokesperson.
For more information contact:
Regal Cutting Tools
5330 East Rockton Road
Roscoe, IL 61073