Tool and die supplier enters 'major transition'
A tool and die supplier under new ownership is starting a "period of major transition" that includes investing $405,000 in machinery upgrades.
The transition at Belding Tool & Machine in Belding is marked by the company investing in its physical assets and employees, according to The Right Place, a regional economic development nonprofit, on Wednesday.
The Right Place said Belding Tool & Machine’s owner, Jason Markham, who purchased the company last August, is focused on “increasing the automation and market diversification of the business,” which was founded in 1940.
The company is a precision tooling supplier to the manufacturing industry. It works with a wide variety of materials, such as alloys, plastics and composites.
Belding Tool & Machine also has a location in southwest Virginia.
The Right Place said the city of Belding has approved a tax abatement for Belding Tool & Machine to support the company’s investment in equipment over the next several years.
Representatives from the Ionia County Economic Alliance are also providing “ongoing business assistance” to Belding Tool & Machine as it continues its transition.