Abstract: An injection molding machine wherein the ram in the injection cylinder can be moved at several speeds and can be subjected to different fluid pressures by an apparatus having a two-way valve whose inlet is connectable to one or more pumps by way of discrete check valves and whose outlet is connected with a chamber of the injection cylinder by a conduit containing an electrically adjustable pressure relief valve. The valve member of the two-way valve is movable between a first position in which it completely seals the inlet from the outlet and several second positions in which it acts as a flow regulating means to permit the fluid to flow from the inlet to the outlet at a selected rate. The valve member is movable by a solenoid-operated pilot valve which cooperates with a stop extending into the path of movement of the valve member and being movable axially by a reversible motor which is controlled by the programming system of the injection molding machine.