Commission SME funding helps injection moulding breakthrough
A University of Warwick innovation project backed by European Commission funding has helped to develop a revolutionary device which will transform modern plastic injection moulding techniques. Until now, plastic injection moulding machines have been hampered by the need to uncouple manually the injection moulding tool in order to reset it for a new task. This laborious and time-consuming process can now be dealt with at the flick of a switch thanks to the development of a new magnetic tool locking device that will replace the old physical tool connections. The Magna-lock device was developed by UK company Magnaforce with the assistance of the University of Warwick's Warwick Manufacturing Group (WMG). The WMG is part of the university's innovation direct programme, funded by the European Regional Development Fund and electronics company Sun Microsystems. This 2 million pound (3.16 million euro) innovation initiative provides Midlands SMEs (small and medium sized enterprises) with practical innovation and design advice and access to expertise on product and process development. The device can be applied to 99 per cent of existing injection moulding machines without the need to modify existing tools. It saves 40 to 60 per cent of the time between job turnarounds and eliminates the risk of tool damage associated with the manual changeover. The European Regional Development Fund (ERDF), administered by the European Commission, aims to promote economic and social cohesion in the European Union by working to reduce inequalities between regions or social groups. Financial assistance from the ERDF is mainly targeted at supporting small and medium-sized enterprises, promoting productive investment, improving infrastructure and furthering local development.