Put your concerns in money terms- not time. Bosses understand money.
"buy me them new tools and I can do that 10 hour job in 8 hours- at our hourly costing rate that's a real saving of x dollars"
I had a similar problem when I wanted to subcontract some low spec parts- it just wasn't ecconomicaly sensible for me to be making them when I could be manufacturing other parts that were worth 12 times more- I wrote it down and gave the commercial director and boss a copy and let them mull it over- I got my way in the end
