YOUNGSTOWN, Ohio – Kiraly Tool and Die Inc. plans to invest in new machinery and equipment this year, launch an engineering department and make important technology upgrades to its operations, the company says.
“2024 will be an exciting year for us,” says Steven Kiraly, president of the Youngstown company. “We are investing approximately $500,000 in new machinery and equipment.”
The new equipment consists of multi-axis machines that will create more capacity, expand Kiraly’s capabilities and replace aging machinery. New inspection equipment will allow the company to check its work with “less labor either on-machine or at final inspection,” Kiraly adds.
“The adoption of 3D scanning will reduce our labor when reverse-engineering a customer part,” he says.
“This investment allows us to capture more work from our existing customer base and create the capacity to attract new customers.”
The creation of an engineering department is necessary to broaden the company’s design capabilities and reduce lead times.
And new scheduling software will greatly improve on-time performance and real time tracking of projects, according to Kiraly.
Other goals this year include completing an in-shop video for students considering a career in manufacturing, expanding Kiraly’s 3D printing capabilities and adding three employees.
The company will also study options for an expansion of its building at 1250 Crescent St. versus constructing a new facility, Kiraly says.
These investments come on the heels of a record sales for Kiraly Tool and Die in 2023, surpassing previous sales by 10%, the company president says.
Last year, the company expanded its customer base, added two employees and retired previous machinery loans, Kiraly says.
“Customer orders were strong and steady throughout the year,” he says.
Kiraly Tool and Die designs and manufactures stamping dies, jigs, fixtures, and gages for production companies.