Two injection molders ranked among the top 100 fastest-growing private companies in the state of Michigan, according to a recent study. In all, five plastics firms made the Michigan Private 100, which used five years of sales data to determine the companies' compounded annual growth rate.
The highest plastics spot went to Plastics Plus Inc., a custom dry blender of color concentrates and resin for injection molders and material suppliers. The 6-year-old Madison Heights firm placed fourth based on sales, which grew from $412,000 in 1991, to $3.9 million in 1995.
``It's nothing secret, nothing magic,'' said owner Roger Ziemba, who credits Plastics Plus' success to its niche market - which targets many automotive molders - and its grocery-store style of doing business.
``We have probably 200 different colors covering different resins in-house. We tell people if they order it in the morning, we'll ship it in the afternoon,'' Ziemba said.
A Spring Lake injection molder took the 16th spot, with a growth rate of 53.5 percent. Lakeshore Diversified Products grew from 16 workers and roughly $3 million in sales in 1991, to 132 employees and sales of $10.5 million last year, said LDP sales manager Jody Craig. Its business is spread between consumer and industrial products and auto parts.
Craig attributes LDP's most-recent growth to the 1994 addition of sister firm LA Tool at the Spring Lake site - a move that has helped LDP contain tool costs and lead times.
This is the molder's third consecutive year on the list - it ranked No. 2 in 1993, she said. Jack Van Loon owns the firm.
Another injection molder, Team One Plastics, placed 55th in the ranking. Last year the Albion company had injection molding sales of nearly $8 million, mainly in automotive parts for Japanese transplants, according to Craig Carrel, part-owner and president.
``Our customers themselves have been growing in terms of market share. We joined them as they were beginning their operations,'' Carrel said. ``We don't see it slowing down in the next couple years.''
Two plastics equipment suppliers, Dynamic Conveyor of Muskegon and RJG Technologies Inc. of Traverse City, also placed No. 44 and No. 46, respectively. Both firms supply injection molders: Dynacon makes belt conveyors; RJG, process controls.
About 250 companies opted to participate in the study, now in its 11th year, by submitting the necessary data. The Detroit offices of investment bankers Roney & Co. and Durocher, Dixson and Werba, a Detroit public relations firm, co-sponsored the report.