Mold manufacturer testifies against imports at ITC

WASHINGTON (May 22)—Unfair competition from foreign mold makers has already caused Akron-based Quality Mold Inc. to lay off more than half its workers and close a plant, according to the company's chief executive officer. Steve Zoumberakis of Quality Mold was one of more than a dozen mold manufacturers—but the only tire mold maker—who testified before the International Trade Commission about the injury caused by imports from Asia, Europe, Canada and Mexico. "When they're bringing a mold here for $20,000, and the steel alone in the mold costs $23,000, you know something's wrong," Zoumberakis said. The House Ways and Means Committee asked the ITC to begin the investigation into the tool, die and industrial mold industries last Dec. 21, and the agency must submit its report to the committee by Oct. 21.