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In this MMT Chat, I sit down with Jeff Glick of Prospect Mold to learn ho this team transitioned from plastic injection moldmaking to aerospace manufacturing. The change began in 2003 when their major customers - Rubbermaid, Hoover, Ford and General Motors - suddenly moved their tooling work to China without warning.
Instead of waiting for these customers to return, Prospect actively looked for alternatives and discovered aerospace opportunities. By 2007, aerospace represented 30% of their business; today, it accounts for 90%.
The biggest challenge in this transition was meeting the strict aerospace certification standards. While ISO 9000 is common in moldmaking, the aerospace standard (ISO/AS 9100D) required significantly more effort. Prospect invested considerable time and money, including hiring external consultants to help navigate the certification process.
Glick explains the technical aspects of their work, noting that while plastic injection molding and aerospace resin transfer molding appear similar on the outside, they function differently internally. The aerospace process requires vacuum technology and has fewer moving parts, though Prospect's existing machinery was sufficient for the transition.
The Chat highlights how the space manufacturing sector has grown from being just a subset of aerospace to becoming its own thriving market. Companies are launching satellites at an impressive rate, creating steady demand. This work has increased employee pride, with staff appreciating the significance of contributing to high-profile aerospace and defense projects.
Glick also shares positive experiences with private equity ownership since 2016. These partnerships have helped the company grow substantially through investment in equipment and innovation. Under this ownership, Prospect continues to grow at about 25% annually, with future opportunities in unmanned vehicles, drones, and next-generation aircraft.
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