Moldtech Will Add 25 Jobs in Deal to Obtain Low-Cost Electricity: Firm is Moving From Lancaster to a Larger Facility in Amherst

By Fred O. Williams, The Buffalo News, N.Y.

Feb. 28–Moldtech Inc. will keep its 50 jobs in Western New York and add about 25 more as part of deal for low-cost electricity, the New York Power Authority announced Tuesday.

The maker of molded rubber products is moving from Lancaster to a larger plant in Amherst, to accommodate increased production, the Power Authority said. The company had considered moving to Indiana.

The Power Authority trustees on Tuesday approved an allocation of 400 kilowatts of Niagara hydropower to retain the company and support its expansion.

Moldtech plans to invest $3.6 million to support additional production, adding seven injection presses to 15 existing ones.

A supplier to the automotive and electronics industries, Moldtech makes rubber gaskets, electronic seals and medical masks among other products.

Niagara power is linked to about 43,000 jobs in Western New York, according to the Power Authority.

The allocation was approved by the Western New York Advisory Group, which includes state and regional job development agencies.

Since being established in 2003, the advisory group has steered 100 megawatts of Niagara power to about 70 companies.

e-mail: fwilliams@buffnews.com

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Copyright (c) 2007, The Buffalo News, N.Y.

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