(March 7, 2005) — Miniature Precision Components Inc. won Plastics News' Processor of the Year Award with a rock-solid performance against the most diversified group of contestants in the award's nine-year history.
That's a good way to think about MPC. Solid. Stable.
We profile MPC in a Page 1 story this week.
MPC is family-owned and family-operated. Members of the Brost family, along with long-time executives and shop-floor employees, keep the ship sailing at the Wisconsin automotive supplier.
The award measures firms on seven criteria, covering nearly every aspect of running a business. MPC showed strong performance in each area: a well-rounded, well-run company.
MPC is worth watching even if you're not in the automotive business, as it moves into new markets such as appliances, medical and small engines. Although executives said there are no definite plans right now, they may look at new plant locations, or even at acquiring another company.
The firm was nominated by Stephen Geimer, senior vice president of its long-time Milwaukee bank, M&I Marshall & Ilsley Bank.
Perseverance pays off, as MPC was a finalist back in 2002.
Picking the winner, always a tough choice, was made even harder this year because the candidates' specialties were all over the map. Normally the nominee pool is packed with injection molders, simply because injection is the most common process used in plastics. This year, 18 firms were nominated: 11 injection molders, three extruders, three blow molders and one rotational molder.
We hope to duplicate that diversity in future competitions. We'd especially like to get some thermoformers, and more rotomolders, to participate.
The finalist field was excellent again this year. That didn't make our decision any easier. Here's a brief recap of the other finalists:
Hancor Inc. Findlay, Ohio-based Hancor is a leading maker of high density polyethylene pipe. Hancor continues to transform its drainage pipe and related products from commodities into branded, value-added products. Hancor touts its recycled content and innovation. If you think plastic pipe must be boring, take a trip to Findlay.
Rotonics Manufacturing Inc. RMI, based in Gardena, Calif., is one of the top U.S. rotomolders. One important reason is President Sherman McKinniss, a legend in rotomolding circles. Under McKinniss, RMI has undergone an impressive diversification, in part through acquiring smaller rotomolders, in part through internal efforts. RMI also supports the rotomolding industry — a sector that deserves more attention from industrial designers. Rotomolding is more than tanks.
U.S. Farathane Corp. One of the leading experts in two-shot molding, USF shows how to invest in new technologies that pay off — to focus on what you do best. The Sterling Heights, Mich.-based automotive molder is under the leadership of President Andrew Greenlee and his management staff. Greenlee is young, but he is earning a reputation around Detroit for expanding into the right technologies, motivating employees and keeping close tabs on the business. USF expanded from its injection molding base into extrusion in 2004 when it bought the assets of Hahn Elastomers.
Congratulations to all the companies!