Plastic Design & Manufacturing Inc. of Manhattan, Mont., restructured its executive team over the summer and now has transferred ownership of the company to some members of that team.
Founder Mike Groff will retain a seat on the board but has not been actively involved in operations for several months, Darrell Witham, vice president of sales and marketing, said Dec. 7 via email.
The company now is owned by President and Chief Financial Officer Randy Scheid; James Smith, vice president of operations and engineering; and Witham, who joined the company in August.
Sam Lazcano, vice president of PDM MX Plastics S de RL de CV in Ciudad Juárez, is not an owner at this time, but that is expected to change, Witham said by email.
The injection molder and tooling company was founded in 1998 and employs 120 at its two plants. With annual sales of about $17 million, it operates presses with clamping forces of 55-950 tons, serving the consumer goods, telecommunications, pet products and firearms markets. Its products include rifle ammunition magazines, plastic food and drink platters, electrical outlet covers and PVC pipe joints.
This month, PDM is completing a 20,000-square-foot addition to its Montana facility to help accommodate its expanding two-shot molding business.
"PDM currently has an impressive executive team, with the ability to grow the company and capably operate it to become a larger presence in the industry," Groff said in a news release.