Economy

In its research for Wohlers Report 2014, Wohlers Associates, Inc. found that revenues from the production of parts for final products represents 34.7 percent of the entire market for additive manufacturing (AM) and 3D printing—terms that are used interchangeably. Since 2003, this market segment has gone from less than 4 percent to more than one-third of total revenues from AM products and services worldwide.

New York equity firm Uni-World Capital LP has acquired CNC machine tool builder Drake Manufacturing Services Co., Warren, Ohio.

The Village of Elk Grove, Ill., will host the second annual Made in Elk Grove Manufacturing and Technology Expo on Oct. 21 at 1925 Busse Road. The Expo provides attendees from around the Midwest an opportunity to connect, collaborate and cultivate relationships with Elk Grove-based manufacturing companies. Over 1,000 people attended the inaugural Expo in 2013, which featured approximately 100 exhibitors from industries ranging from precision machining, plastics and electronics to packaging and industrial services.

Midwest Industrial Tool Grinding Inc. (MITGI), Hutchinson, Minn., has been awarded a 2014 Image Award, one of eleven Manufacturing Awards presented by Minnesota Business Magazine. A first time finalist for the award, MITGI was honored for its efforts to improve the industry's image and for promoting careers in manufacturing.

Polygon Solutions is one of a group of Florida manufacturers that has volunteered to host events during National Manufacturing Day Oct. 3. About 1,300 events are scheduled throughout the U.S. This is the third year of the event, and the third year the Fort Myers-based company is participating. The rotary broach manufacturer was also named a winner of the event's first-ever Manufacturing Day Video Contest.

On Aug. 11, Hutchinson, Minn.-area businesses partnered with the local Economic Development Authority (EDA), the Southwest Initiative Foundation, and the Minnesota Department of Employment and Economic Development as part of a statewide initiative to promote Minnesota as a viable manufacturing area for businesses that are considering locations in the U.S. Dividing the state into eight regions, The Site Selector Familiarization Tour brought in site-selecting consultants to familiarize them with the assets and infrastructure that Minnesota has to offer international and domestic businesses.

Indiana Technology and Manufacturing Cos. donated a Zeiss DuraMax coordinate measuring machine to the Precision Tool Manufacturing Training Program for students who attend Plymouth High School. The donation was announced at the 2014 International Technology Manufacturing show in Chicago. The new machine shows ITAMCO's continuing support for the program that Mark Neidig, purchasing manager at ITAMCO, proposed to the Plymouth School Corporation superintendent in 2013.

Minneapolis machine shop NTM Inc. is now certified to regrind and refurbish KOMET tools, manufacture solid carbide tools and to provide KOMET brand standard solid carbide tools as the sixth KOMET SERVICE Partner in North America. On June 12, NTM and KOMET of America, Schaumburg, Ill., held a celebration to mark the official start of NTM's KOMET SERVICE Partnership. Attendees included representatives from KOMET of America, as well as NTM employees' families and NTM's customers and business partners.

Midwest Industrial Tool Grinding Inc., Hutchinson, Minn., is a first-time finalist in two categories for the Minnesota Business 2014 Manufacturing Awards. Awarded annually by Minnesota Business magazine, the awards recognize achievements in 10 categories. This year, the toolmaker is a finalist in two categories: Best in Class (small company, 1 to 50 employees), recognizing companies for overall excellence in the manufacturing industry in Minnesota, and Image Award, honoring an organization for improving the industry's image and showing the appeal of careers in manufacturing. 

Deburring solutions provider Abtex Corp., Dresden, N.Y., acquired Bloomfield, N.Y.-based robotics manufacturer Nihmble Technologies to enable manufacturers to use robotics technology to integrate Abtex's deburring equipment into existing operations. Robotic systems can provide manufacturers a range of benefits when deburring, from enhancing the flow of a single operation to connecting multiple operations to deburring multiple surfaces of a part in a single step, noted Mark Fultz, Abtex owner and president.