In production engineering radical changes are taking place supported in new manufacturing paradigms and in technological developments. The increasing demand for meeting customer requirements and technological innovations have influenced the degree of flexibility built in the manufacturing system and its ability to respond in terms of cost, volume and time delivery. Taking the example of Portuguese mould making industry, this paper will analysed the main changes that have occurred in this industry and its ability to adapt to the availability of higher level of digital technologies and how they support new business models, extending their value adding chain.