Press release submitted on behalf of LS Mtron.
LS Mtron Injection Molding Machines USA reported 101% year-over-year growth in the U.S. in August, signaling that the Korean parent company’s push to gain market share in North America is on pace.
Through that growth, LS Mtron has reached 10% market share for injection molding machines (IMMs) in the U.S. – a milestone that is likely to trigger the company to begin manufacturing presses domestically. LS officials recently toured a 20,000-square-foot site in Marion, Ohio, that features a 150-ton crane and could support production of large-tonnage IMMs.
“Our quick success affirms that by truly serving molders with presses tailored exactly to their specifications and completely committing to our customers’ success, our approach is resonating strongly with the plastics industry,” said LS Mtron President of Sales Paul Caprio.
LS Mtron’s U.S. business unit for IMMs has been steadily ramping up sales since 2021, when retiring president Peter Gardner joined the company.
“This milestone reflects not only our growing market presence in North America, but also our continued commitment to delivering world-class technology, exceptional service and true long-term value for our customers,” Gardner said.
Recent new customers include Hard Head Veterans of Sweetwater, Texas, Stanford Manufacturing of Clemmons, North Carolina, Diskin Enterprises of Garrettsville, Ohio, and Atomic Industries of Warren, Michigan.
About LS Mtron Injection Molding Machines
LS Mtron is part of the LS Group, a South Korean-based conglomerate with over 25,000 employees, annual revenues of over $30 billion and profit of approximately $1 billion. LS Mtron Injection Molding Machines (LS IMM), a division of LS Mtron, was started in 1969 by South Korean tech giant LG Corporation, one of the world’s largest plastic molders. Founded initially to satisfy their own production needs for injection molded components used in their world-famous TVs, appliances, electronics, and other products, today LS IMM produces thousands of machines a year, not only for use by our network of LS-related and LG-founded companies but also for thousands of molders around the world.
Since 2021, the LS Group has invested $722 million in a number of its businesses in the U.S., demonstrating unwavering commitment to long-term growth and innovation.
Beginning with the development of Korea’s first injection molding machines, LS IMM prides itself on quality, service and fast deliveries. The combined strength of the LS family of companies allows us to solve many of the world’s supply-chain challenges.
Because of this, LS IMM can provide new custom molding machines to our customers in North America in just 100 days from casting to cargo, or even faster from our stocked inventory.