CORVALLIS, ORE. — Plastech Inc. is rebounding from business losses and looking for investment capital. "We had a couple of bad years from 1997-99, but we are coming back now," President Michael Hendrickson said in a telephone interview from the company's Corvallis headquarters.
Hendrickson has been contacting potential equity investors and East Coast firms that might need a West Coast capability.
Plastech had sales of $2.5 million in 1997 and anticipates total sales of $1 million this year from plastics processing, metal machining, prototype development and mold building.
The injection molding portion dropped to $600,000 in 1999 from $890,000 in the previous year. Plastech lost plastics work involving computer modem housings and product display stands and holders.
Plastech manufactures and markets several proprietary products, including a bird feeder through Wild Birds Unlimited Inc. of Carmel, Ind.
The company employs 20, including eight in plastics processing, in its 6,700-square-foot plant. Five injection presses have clamping forces of 75-300 tons.
Hendrickson acquired and renamed the business in 1997 after 16 years with Hewlett-Packard Co. His father, Al Hendrickson, established the business as Hendrickson Enterprises in 1979 with a focus on injection molding and mold building.