Former Spartech chief Holt lands at Proto Labs

By Frank Esposito
Senior Staff Reporter

Published: February 7, 2014 12:24 pm ET
Updated: February 7, 2014 12:25 pm ET

Image By: Spartech Corp. Victoria Holt

Related to this story

Topics Injection Molding
Companies & Associations Spartech Corporation

Former Spartech Corp. leader Victoria Holt has been named president and CEO of quick-turn manufacturer Proto Labs Inc.

In a Feb. 6 news release, Proto Labs founder and chairman Larry Lukis said that Holt's "track record of leading companies with large and diverse operations…makes her an excellent choice" to lead the firm.

Maple Plain, Minn.-based Proto Labs uses injection molding and CNC machining to make custom parts for prototyping and short-run production. The publicly-held firm posted sales of $126 million in 2012.

Holt led Spartech — a leading plastic sheet maker and compounder — from 2010 until the firm was sold to PolyOne Corp. for $393 million in early 2013. She received a golden parachute payment of more than $5 million in cash, equity, pension and benefits after leaving Spartech.

Prior to joining Spartech, Holt had been senior vice president at paint, glass and coatings maker PPG Industries Inc. At Proto Labs, she will be replacing Brad Cleveland, an original employee from the firm's 2001 launch.

Cleveland has said he wants to start his own company, possibly in the alternative energy field. Cleveland's "fantastic organizational and team-building skills have made the company what it is today," Lukis said in the release.

He added that Holt "has the complementary experience to build on our accomplishments and leverage Proto Labs' strong platform in the years ahead."

In August, Proto Labs officials announced that the firm was buying a 175,000-square-foot building in Plymouth, Minn., about 10 miles from its headquarters. Proto Labs will spend about $15 million to turn the building into a production site by mid-2014.

Proto Labs already has four buildings totaling 300,000 square feet in the Twin Cities area. The firm employs 490 in Minnesota, including a site in Rosemont. Proto Labs also has facilities in Telford, England; and Yamato-Shi, Japan.

On Wall Street, Proto Labs' per-share stock price has enjoyed substantial growth. The price was near $40 in early 2013 but closed near $78 on Feb. 6. The firm has been public since February 2012.


Comments

Former Spartech chief Holt lands at Proto Labs

By Frank Esposito
Senior Staff Reporter

Published: February 7, 2014 12:24 pm ET
Updated: February 7, 2014 12:25 pm ET

Post Your Comments


Back to story


More stories

Image

New medical firm buys Clairson Plastics

September 19, 2014 4:33 pm ET

Custom injection molder Clairson Plastics is being sold to a new start-up that plans to dive into the medical market with a new dialyzer, a key...    More

Image

Hong Kong's TK eyes expansion, may buy Nypro Tool operation

September 19, 2014 2:49 pm ET

Hong Kong-based mold maker and plastics processor TK Group (Holdings) Ltd. said it's reached a tentative agreement to buy a tooling factory in...    More

Exo-s buys injection and blow molder in Mexico, expands footprint

September 19, 2014 2:15 pm ET

Custom molder Exo-s Inc. has bought an injection and blow molding operation in San Juan del Rio, Querétaro, Mexico.    More

Image

Smartphone work adds 52 percent to sales for China's Eva Precision

September 18, 2014 4:37 pm ET

Growth in supplying the smartphone and automotive industries helped Chinese processor Eva Precision Holdings Ltd. push injection molding sales up 52...    More

Image

Nolato Contour beefs up white room molding capabilities

September 18, 2014 11:56 am ET

Nolato Medical has extended its controlled environment options to include a white room at its Baldwin, Wis., Nolato Contour plant.    More

Market Reports

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook – North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events