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March 08, 2016 01:00 AM

Uncertainty in economy, politics pinches processors

Bill Bregar
Senior Staff Reporter
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    Michael A. Marcotte
    From left, Jeremy Dworshak of Steinwall Inc. and Josh Janeczko of Innovative Injection Technologies Inc.

    Naples, Fla. — Past Processor of the Year Award winners didn't limit themselves to molding and plastics — they also touched on the presidential election, and gauged some early feelings of U.S. economic shakiness during a discussion at the Executive Forum.

    “There's way too much uncertainty in the economy and there's a lack of direction from Washington. And it's hard to plan, and when it's hard to plan it's hard to invest,” said Brenan Riehl, president and CEO of GW Plastics Inc. based in Bethel, Vt. “There's just a lack of true direction.”

    But Riehl said the U.S. economy is the strongest in the world right now.

    “So if we can just unleash the entrepreneurialism in this country and let companies here do their job and get Congress out of the way, we'll be OK,” he said.

    Jeremy Dworshak, research and development manager at Steinwall Inc. in Coon Rapids, Minn., said that smaller companies tend to notice economic slowdowns first, so some of the company's vendors are starting to see this, he said.

    Forum moderator Don Loepp, the editor of Plastics News, asked Jeff Somple, the president of Mack Molding Co. in Arlington, Vt., to give his take on the economy. “It's an election year, No. 1. And it's also probably the strangest elections we've ever seen,” Somple said.

    And Somple said the mergers and acquisitions spree makes business even more of a challenge. “All of a sudden, the relationships you have, you've started seeing changes,” he said. Pricing pressure heats up.

    Somple also said some large customers are starting to include wording in contracts that Mack will share product liability costs.

    “The contracts that are stuck in front of you are pretty onerous,” he said. Mack says no to these “company killers,” he said.

    Michael A. Marcotte

    From left, Philip Katen of Plastikos Inc., Brenan Riehl of GW Plastics Inc. and Jeff Somple of Mack Molding Co.

    Reihl said that GW Plastics doesn't sign these type of contracts. GW often can negotiate that issue, but if not, he said, “we have to stiffen our spine.”

    Plastics News' Executive Forum, held in Naples Feb. 15-17, marked the 20th anniversary of the Processor of the Year Award. Past winners were honored at an awards banquet. The other panel members were Philip Katen, president of Plastikos Inc. in Erie, Pa., and Josh Janeczko, president of Innovative Injection Technologies Inc. (i2tech) of West Des Moines, Iowa.

    Mack was the 2006 Processor of the Year, i2tech won in 2007, GW won the top award in 2009, Plastikos won in 2010 and Steinwall won in 2011.

    In addition, GW Plastics won the Sustained Excellence Award this year, for continuing to operate at a high level since winning Processor of the Year.

    Katen said participating in the Processor of the Year Award was a good experience for Plastikos. “It really is an introspective process. We included a lot of individuals across a lot of departments,” he said.

    Drawing on the wisdom of veteran employees was valuable, he said, “to see what we're really good at, where our strengths are, which really comes back as people and culture.”

    Janeczko said winning the award helped build i2tech's brand to a larger geographical area. “It really helped with our employees,” he said. “They enjoyed winning.”

    Dworshak said it helped Steinwall do self-analysis — something the company likes to do anyway.

    “You have to learn how to talk about what you do well,” he said.

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