4 Friends who Seized an Opportunity
Mold Base Industries (MBI) was founded in June 1972 with the idea of launching one of the first custom mold base manufacturing companies on the east coast. In 1969, the four original founders, Sam, Jay, Rick, and Ted, worked for Columbia Engineering. Columbia Engineering was owned by Flinchbaugh Products. Columbia Engineering manufactured mold bases. Flinchbaugh Products manufactured shell casings for the military and Vietnam War effort. The friends recognized the opportunity for a custom mold base manufacturer on the East Coast as most competitors focused on manufacturing standard mold bases. Taking a chance, they decided to combine their experience and try their hand at manufacturing custom mold bases. These mold bases were created from saw cut steel to customer specifications for use in the plastic injection and die casting industries for the U. S. market. Their gamble paid off.
Mold Base Industries (MBI) first opened its doors in June 1972 in the aftermath of Hurricane Agnes, one of Pennsylvania's worst hurricanes. Due to severe flooding many railways and highways were closed. This created a challenge in both receiving and installing equipment and shipping products out to customers. MBI began with only four employees. Two owners worked in sales and finance and the other two manufactured the custom mold bases. As a testament to MBI's quality and longevity many customers, including their first one, are still loyal to this day over 50 years later.
MBI becomes Employee owned
MBI Became Employee Owned (an ESOP) in 2018. Of the four original owners, Ted left two years into the venture and Jay Ebersole retired in 2014. The remaining owners, Rick Shiffler and Sam Shiffler, were looking to retire as well. Both wanted the business to continue and for all employees to keep their jobs, therefore, they needed a succession plan.
MBI hired Mike Wilhelm, a graduate of Lebanon Valley College, as General Manager to help find a way to keep the business going and create a smooth transition in ownership. Mike worked closely with Rick and Sam for years before joining MBI, as their account manager in MBI's accounting firm. Mike was familiar with the culture at MBI and with the founders. He suggested the ESOP model and all parties agreed it was the best scenario for the exiting partners and the continuation of MBI into the future without the restrictions of private ownership.
Looking To The Future
In June of 2022 MBI reached it's 50 Anniversary. MBI has had some difficulties in their long history. The market is ever changing, and technology is evolving daily. The hiring market is as tough as it has ever been and due to MBI's longevity, we are losing long time employees to retirement. However, MBI has rolled with the punches through the years and has emerged stronger than ever and ready to expand into the future.
We have made considerable investments to stay competitive and cost effective in this market.
- New CNC Machining Centers
- New Inspection Equipment
- New Computer Aided Technology
- Additional steel inventory
- Additional Blanchard Grinders to increase our plate processing capacity
By making these strategic investments, MBI is positioning itself for future growth and expansion. The focus on technology, efficiency, and increased production capacity allows the company to meet customer needs effectively and maintain its competitive edge in the mold-making industry.