Sko-Die has been in the Steininger family since its founding in 1947—and after 71 years in business, tax reform is allowing the company to expand its facility, update its technology and reward its employees.
Sko-Die, based in Morton Grove, Illinois, manufactures custom steel laminations and heavy gauge metal stampings for products used by the American people every day—including aerospace, medical and consumer products.
“The first thing I did when I found out what my tax savings would be? I took that money and gave a raise to all the employees,” said Sko-Die President Patrick Steininger. “It came to about 3 percent per employee, on average.”
In addition to their pay raises, Sko-Die’s 70 employees will also see their workspace updated and expanded. Steininger plans to use the company’s tax savings to make sure Sko-Die employees have access to the latest and most efficient technology available.
“The instant they passed tax reform, I bought two new pieces of equipment—a big grinder that will grind dies more efficiently and a new press that will run twice as fast,” Steininger said. “That makes us more productive, more competitive and more profitable.”
The total price for Steininger’s technology investment? “About $1 million.”
Because of increased output from the new machines, as well as increasing demand for Sko-Die’s products, Steininger also plans to expand the Morton Grove, Illinois, facility—taking over a nearby building that will add about 10,000 square feet of additional manufacturing space. He’s also addressing long-term maintenance issues, such as investing in a new roof for his existing facility.
“Without tax reform, we wouldn’t have made these investments,” Steininger said. “Absolutely not.”
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