|
Monarch Machine Tool to Upgrade Facility Monarch Machine Tool Company today announced a significant upgrade of its manufacturing facility. The company will be reinforcing the floor and adding new cranes in order to handle the much heavier UMB gantry-style machining center models. The company will also be adding new assembly fixtures to allow it to build the gantry bridges independently from their bases. The upgrade to the facility will begin almost immediately and is expected to be completed in the fourth quarter. Wayne W. Hanna, Monarch's President and CEO, said that Monarch felt it was necessary to invest in improvements to its Cortland facility in order to continue to provide customers with high-quality machine tools with the shortest possible lead time. Hanna stated, "The recent influx of orders for our UMB line of large gantry machining centers has demonstrated the need for a substantial enhancement to our manufacturing space." Hanna anticipated that the new fixtures will cut almost two months out of the manufacturing process." Commenting on the need to expand so quickly after purchasing the company, James F. Poole, Chairman of Monarch and President of Cygnus Management Group, Monarch's principal investor, stated, "The company's initial performance has more than met our expectations. Clearly, our faith in Monarch was well-founded. We will continue to support the company's need for expansion capital." Monarch manufactures a complete line of vertical machining centers, vertical traveling column machining centers, and gantry-stlye machining centers. It also imports a line a of high-precision lathes from Germany. (For further information, contact Wayne W. Hanna: (607) 753-6001; whanna@monarchmt.com) |
August 23, 2000
Vertical
Machining Centers | Production Machining Centers Retrofits, Rebuilds, and Upgrades | Machine Specials What's New | Customer Service | Distributors | Technical Issues Monarch Machine Tool 607.753.6001 phone © Monarch Machine Tool, Inc. 2003 |