What was in talks over the last couple of years has finally become a reality as Myco Plastics closed on the purchase of Jacksonville Tool & Die early this month.
Since Mississippi-based SCP Polymers purchased Myco Plastics in March 2018, the company has made efforts to expand its business and make capital investments in Jacksonville.
Myco was named Employer of the Month by the Jacksonville Economic Development Corporation in Oct. 2018 and was the recipient of Keep Jacksonville Beautiful’s Beauty and Business award in January of this year, following renovation to the exterior of their building.
At Myco Plastics, a new piece of equipment was delivered and installed Thursday, Nov. 11. The new injection molding press was bought locally from Don Gruber of 1st Choice Plastics Machinery.
The new equipment will provide Myco with a broader offering of injection molding capabilities.
“Since the purchase of Myco, we’ve always had the desire to build our own tool room,” said Myco CEO Bud Hanna. “Our internal tool room at our site in Mississippi has been vital to reducing costs in our tooling maintenance and repair programs.”
When JT&D owner Mart O. Betts discovered Myco was considering building a tool room, he offered his tool and die business to Myco, according to Joshua Hanna, Myco Plastics President and General Manager.
“They have everything that we needed in a tool room,” stated J. Hanna.
As Betts is planning to retire in a couple of years, according to Joshua Hanna, the purchase of JT&D will keep the business functioning beyond that event.
Immediate plans for the tool and die include updating JT&D’s resource management software, updating their supplier network and transitioning unused equipment to Myco.
The business will continue to operate under the same name and at its present location, 1044 Loop 456, with all current employees remaining with the company.
“We’ve also given pay raises to all of their employees,” J. Hanna stated.
Myco employees will take up additional responsibilities to assist with growing JT&D, according to J. Hanna. These include Joshua Hanna, now President; Dee Crosby, Controller; and Don Burrows, Sales Manager.