Speedgrip Chuck Company is making a $1.2 million machine tool investment to bring new workholding technology to market. PHOTO courtesy Speedgrip Chuck Company.
Speedgrip Chuck Company has been awarded a $200,000 Manufacturing Readiness Grant by the Indiana Economic Development Corporation (IEDC) to boost the company’s investment in advanced manufacturing technology and products.
The company will use the one-to-one matching grant as part of a $1.2 million machine tool investment that includes a 5-axis multitasking machine for turning and milling as well as a 5-axis grinding machine. The new machine tools will provide Speedgrip with additional precision production capacity as it brings several new workholding technology products to market that reduce cycle times to improve manufacturing productivity.
Speedgrip recently launched three new products: the NDS Quick-change Mandrel, QCR Quick-Change Receiver and CSC Contactless Stroke Control. Designed to reduce the time required for workholding changeovers, all new products harness the capabilities of Industry 4.0.
“The grant accelerates our ability to enhance manufacturing technology,” said Speedgrip President Matthew Mayer. “Speedgrip Chuck Company is currently in the prototype stage of introducing additional groundbreaking products developed specifically to leverage cutting-edge Smart technologies.”
Speedgrip Chuck Company was founded in 1946. All Speedgrip products are produced in-house and in America at its Elkhart, Indiana facility.