Enterprise Ireland
Annual Report and Accounts 2007

Longford’s Moulding Technologies shapes up for rapid expansion

• Homepage
• Chairman’s statement
• Chief Executive Officer’s report

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• Section 1
  Achieving export sales
• Section 2
  Industry-led research and innovation
• Section 3
  World class productivity and management development
• Section 4
  Starting and scaling companies
• Section 5
  Driving regional enterprise
  • Mantis Cranes hoists exports to new heights
  • Competitive businesses in all regions the goal of cross-border collaboration
  • Longford's Moulding Technologies shapes up for rapid expansion
  • Campus Incubation Programme encourages high growth start-ups throughout the country

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• Membership of the Board and Committees
• Organisation structure
• Corporate governance
• Financial statements
• Office network

Moulding Technologies Ltd worked closely with Longford County Enterprise Board in its early development phase before moving through to Enterprise Ireland and becoming a high potential start-up.

The Edgeworthstown company is a plastics injection mould specialist offering design, manufacture and high-end finishing in a state-of-the-art clean room with robotic spraying facilities.

It creates parts such as door grips, dashboard consoles and window mechanisms for customers in the Automotive sector and a varied amount of other products for the Consumer and Construction sectors, where it has a healthy pipeline of blue chip customers. Through its first-tier supply partner Alps Electric Ireland, customers include Volvo and BMW. In the UK, Nissan are a customer through first-tier supply partner R-tek UK. Irish–based customers include Wavin Ireland, Mergon International, Cherry Pipes and Uponor in Northern Ireland. In partnership with Kelly Hunter Ltd, Moulding Technologies is also developing new customers such as Tesco and Tupperware, offering a range of home consumable items.

In terms of sales and exports the young company, established in 2006, is on a steep growth curve. Employment is set to rise from 15 to 30 in 2008, and by year-end 2007 it had increased turnover by 350 per cent – one of the reasons it was selected as the best new company of the year by Longford County Enterprise Board (LCEB) in its annual business awards event.

LCEB is one of the 35 city and county enterprise boards providing a localised support network to micro-enterprises and small businesses around the country. Concentrating on businesses at a local level, they aim to develop indigenous enterprise and entrepreneurial potential and stimulate local economic activity. Collectively the CEBs have supported the creation, expansion and development of many thousands of micro-enterprises and small businesses in Ireland since they were set up in 1993.

“Longford County Enterprise Board provided funding and advice to us early on, but they soon advised us that we needed to talk to Enterprise Ireland,” says Joe Hughes, Commercial Director. “Enterprise Ireland came in and identified us as a HPSU. From there they provided funding for an R&D operation that will gear us more towards export markets.”

Moulding Technologies Ltd is unique in offering a multi-skilled fabrication and finish service from design to manufacture, and contract robotic spraying within the same company. This is one of the reasons in 2007 it was able to crack the UK market, where end-to-end injection moulding specialists have been transferring operations to the Far East.

“As we can provide the very high level of quality that customers need,” says Hughes, “we can compete strongly. The competencies and the standards are here and we can therefore see significant growth potential in 2008.”

www.mouldingtechnology.com (link opens in a new browser window)