The company says the name changes are intended to present the differing expertise and capabilities of the group, while, at the same time, giving customers the opportunity to choose the preferred combination for their products. In addition, it says there will be the acquisition of a new subsidiary in the near future that will focus on the automotive market, further broadening the groupís skills base. Meanwhile, the company will continue to operate in its current form: polyoptics producing optical lenses and precision components; polymermedics manufacturing high volume precision components for the medical and pharmaceutical industries.
At an open day earlier this month, polymermedics showcased the recent investments it has made at its St Austell factory, particularly in conjunction with machinery partner Engel UK (Warwick / England; www.engelglobal.com/uk). Earlier this year the company had touted plans for investment, including two Engel injection moulding machines and reorganisation of its clean room facilities - see Plasteurope.com of 19.07.2012. The resulting investment, understood to be close to GBP 2m (EUR 2.5m), includes high precision, energy-efficient injection moulding machines combined with modern hot runner precision tooling technology. According to financial director, John Colling, the investment provides increased capability to serve the global medical technology market segment. Currently m-industries has more than 70 employees based in Kieve and St Austell. It has also commenced activities in Kiew / Ukraine in order to expand into the Eastern European market.