Mate Precision Tooling is expanding it’s product line to target a whole new industrial market segment, and it’s getting a new company name to reflect that change.
Now known as Mate Precision Technologies, the company says its name change reflects “a broader commitment to metalworking and using its expertise to drive innovations to shape the future of factory productivity.”
The name change also signals Mate’s expansion into the metal cutting and machining industry, with the release of a major new product line in 2021. So far the company hasn’t added many details as to which products will be added.
“At our core, Mate is a precision products and technical solutions company. We relate to solving technical problems and manufacturing products to increase our customers’ productivity,” said Dean Sundquist, chairman and CEO.
“The new name represents an exciting new chapter for Mate. It truly supports our mission statement, which focuses on improving our customers’ factory productivity, and we are now better positioned to extend our skills and technologies to other markets like the metal cutting and machining industry.”
Sundquist emphasized that Mate remains committed to its existing customers. “Every company needs to grow and evolve, which is what Mate is doing. We continually look ahead for new ways to serve our customers. This is what launched Mate into worldwide markets, thick turret tooling, laser consumables, press brake tooling, and now metal cutting and machining. Looking ahead is what keeps Mate strong.”
The new name is effective September 1, 2020, and will be implemented across the company’s product and services through 2021.