It is with great pleasure that we announce Westminster Tool is the recipient of the Moldmaking Technology Magazine 2020 Leadtime Leader award, sponsored by Progressive Components. As one of the most distinguished accomplishments for injection mold builders in the industry, the entire team is honored for this recognition. Since 2003, this award represents mold makers who have excelled, not just with the shortest lead times but those who go above and beyond in all aspects of the trade.
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For Westminster Tool, this prestigious award is one that we have taken a special amount of pride in since our last acceptance as the 2014 Leadtime Leader. It was through Moldmaking Technology Magazine’s coverage of this first award that we gained newfound exposure and recognition for what made us unique.
A lot has changed since then, and in some areas, our company is almost unrecognizable. With our first win over 7 years ago, our largest differentiator then was our company culture. We underwent a major transformation, paused all capital investments, reconfigured our business model, and invested heavily in our people. We spent years laying the groundwork for a business model focused on continuous learning and continuous improvement.
Since then, we’ve shifted our focus to bridging people with technology. We began investing in state-of-the-art equipment to give our people the best possible resources and tools to succeed. We expanded our inspection, quality, and engineering processes. We invested over 10% of our company’s annual revenue back into new tools and machinery. We began groundbreaking research into the application of metal 3D printing alongside leading additive manufacturing company, Mantle Inc.
But we also faced a great deal of obstacles along the way. 2020 forced us and many other businesses in our industry to adapt. We changed the way we connect with our customers, the community and especially each other, inside and outside the office. Despite the unprecedented uncertainty and struggles, our team stayed focused on what makes Westminster Tool great: the drive to always get better.
The Leadtime Leader award is a representation of that progress. It is a reminder to our team that we are on the right path and that the risks we’ve taken over the years were the right ones to take. It is representative of the resilience and hard work of every member of the Westminster Tool team. There is no greater honor than being measured against other leaders in our industry and we could not be prouder to be this year’s winner.
