Cultural Shift Drives Westminster Tool’s Business Model
A near decade-long cultural transformation is putting Westminster Tool in the spotlight as Moldmaking Technology’s Leadtime Leader for this year.
One North American mold manufacturer receives the prestigious award annually for demonstrating outstanding innovation, efficiency, quality, and commitment to operations.
“We spent years laying the groundwork for a business model focused on continuous learning and continuous improvement, and it’s paying off,” said Ray Coombs, president of Plainfield-based Westminster Tool.
This is not the first time the company received the award. Coombs said the exposure after winning in 2014, “helped put us on the map.”
Since then, company culture has shifted gears. They created a new business model, put a pause on capital investments, and fully invested in employees.
As part of the change, the company trained employees on workplace development, communications, interpersonal skills, and lean practices.
Once the company invested in its people, vice president Hillary Thomas said they could put more money into operations.
“We invested over 10% of our company’s annual revenue back into new tools and machinery,” Thomas explained. “We began groundbreaking research into the application of metal 3D printing.”
That research will continue to expand under the Additive Manufacturing Adoption Program grant the company recently received from the state.
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