Mississippi Polymer Technologies Inc. has received a $7.5 million contract from the Department of Defense to increase production of its proprietary Parmax self-reinforced thermoplastic for military and commercial applications.
The new company, based in Bay St. Louis, demonstrated its polymer to Defense Department officials earlier, proposing it for use in weapons systems, aircraft and navy vessels.
The new contract should expand the market potential for its material, the firm said.
In 2004, the company received a $750,000 research contract from the U.S. Navy to help develop Parmax, which was created by MPT founder and Chief Executive Officer Robert Gagne. The company has grown from two employees in 2000 to 50 researchers, engineers and support staff today.
MPT also promoted John Flock to president and chief operating officer. Flock is a former GE Plastics executive who was a consultant for the company from 1998-2004. Last year he joined MPT full time as vice president of production.