Myco purchases Jacksonville Tool & Dye
JACKSONVILLE – Myco Plastics, Inc., located near U.S. Highway 79 in Jacksonville, recently has purchased Jacksonville Tool & Die, a move that allows the company “the ability to vertically integrate and fix/maintain our own tools we house for our customers,” said Joshua Hanna, Myco Plastics president.
The two companies are under the umbrella of parent company South Central Polymers, Inc., which purchased Myco in 2018.
A plan to purchase the local tool and die company in early 2020 was delayed to COVID-related concerns on a financial level; however, SPC was able to recently purchase “the property and assets associated with JTD for an undisclosed amount,” Hanna said, adding that all JTD employees have been retained, “including the original owner Mart O. Betts.”
The two companies are located several miles apart, with the tool and die site at 1044 Texas Loop 456 and Myco – a plastics injection-molding facility – at 902 Cherokee Trail, parallel to Highway 79, an ideal setting for both, Hanna said.
“We will keep both locations. Although JTD will be owned by us, we will keep them separate since it already has a good customer base that we do not want to interfere with,” he said. “If any expansion efforts occur, they will likely happen at the JTD property since it has more land and it relatively flat, compared to the Myco property.”
Collectively, there are approximately 50 people employed by the two companies, with the larger number at the Myco site.
Investing in Jacksonville is something the parent company was interested in, because the locations of the two businesses create “a great manufacturing hub located on two major highways, and customers find this very appealing,” he said. “And the local business community has been very supportive, which makes us feel good about future investments in Jacksonville.”
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