Troy Industrial Solutions is preparing to pursue new opportunities producing metal prototypes.

Two months after investing more than $150,000 to install its first computerized lathe machine, general manager David Barcomb says the investment has positioned the company to pursue new business and diversify the company’s revenue stream.

“We’ve seen some immediate paybacks,” Barcomb said. “Production is much faster and more accurate.”

Barcomb said the computerized lathe makes Troy Industrial Solutions more competitive in the marketplace. It takes away the 12- to 16-week lead times that often come with waiting for repair parts. The pace of production also is much faster. It takes about eight hours to manually machine two engine shafts. The computerized lathe can do the job in about one third of the time.

Troy Industrial Solutions purchased the new lathe from Allendale, a HAAS machine distributor in New Jersey, after running into challenges finding skilled machinists to run manual lathes.

The company, which employs 68 people at its Watervliet, NY headquarters, machines metal parts used to repair industrial motors. Barcomb said the company’s revenue is south of $18 million. Clients include Finch Paper, Regeneron pharmaceutical company and General Electric.

The payoff has been so fast that the company is looking to purchase a second computerized milling machine.

The prototyping business enables the 150-year-old company to diversify its roster of clients and services. Programmable computerized machines enable Troy Industrial Solutions to make metal parts including shafts and bolts based on computer aided designs.

“We’re going to continue to take advantage of technology. It’s inevitable,” Barcomb said. “You’ve got to embrace it. If you’re not, you’re going backwards.”

Troy Industrial Solutions will relocate some of its manual equipment to the factory it acquired in Connecticut last year.