HEIMATEC INC. TO COMBINE WITH OTHER TOOLING LINES UNDER NEW CORPORATION, PLATINUM TOOLING TECHNOLOGIES, INC.

Longtime tooling authority Preben Hansen to lead new company

Heimatec Inc., a market leader in live tooling for the North American machine tool industry, announced today that it will become part of a new corporation, Platinum Tooling Technologies, Inc.  The announcement was made by the longtime president of Heimatec, Inc., Preben Hansen, who will lead the new company as its president and COO, holding a majority stake in its ownership. Mr. Hansen is a 30-year veteran and recognized authority in the machine tool industry for tooling and its applications.

“I’d been pondering this move for some time and, after considerable discussions with Heimatec GmbH, Tecnicrafts Industries, Henninger GmbH, and other principals we represent, it seemed time to make this decision and move forward with the new company,” said Hansen, speaking from the Heimatec North American headquarters in Prospect Heights, Illinois, just outside Chicago.

Hansen continues, “The new company will enable us to serve our existing and new market opportunities in a more pro-active fashion.”  He cited the recent expansion of the Chicagoland facility, with added office and warehouse space, allowing more staff to be hired and greater inventories to be carried on all lines to be represented by the new company.  The Heimatec products will continue to be our main focus but we are fully committed to the growth and success of Tecnicrafts and our other product lines.

Other developments in the works, Hansen states, include additional lines of machine tool accessories and related machine components.  Heimatec Inc. has been adding various other brand names to its roster over the years, most recently the very successful guide bushing and collet line from the global supplier Tecnicrafts Industries.  Tecnicrafts manufacture products made specifically for the Swiss machine tool market. Platinum Tooling will make a further investment to this line with extensive inventory and the purchase and installation of a grinding machine.  Bringing this process “in house” will improve delivery times and strengthen market position.

Additional personnel and sales representative firms are being sought to augment the existing team, Hansen notes.  “Nothing will change in our interaction with current customers, reps and distributors. We’ll be enhancing our capabilities, however, with more application engineering, service technicians and staff dedicated to the specific tooling lines we represent.  In that way, our value proposition and overall service package to the industry will rise to new heights.”

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