Bill Wood, Plastics News Economic Editor, gave his thoughts regard the economy, and more specifically the state of the plastics industry at the Plastics News Financial Summit in Chicago.
Snippets from Bill’s observations are as follows:
- US plastics production is at 90% of its pre-recession peak
- Durable goods and auto sales are seeing slow growth
- Retail sales outside automotive are getting back to 4% growth
- Housing starts, one the bellwether of the economy, are improving, but remain down 40$ from pre-recession peaks
- The appliance industry is growing at a 5% level
Mr. Wood believes economic growth in the US will remain in the 2% to 2-1/2% range, which will lead the plastics industry to this same type of growth pattern. For the full article, click here.
Formtech is blessed to serve a wide variety of end markets including office furniture, electronics, point of purchase displays, building and construction, packaging and the entrance mat industry with many custom and proprietary extruded shapes. We are enjoying growth in excess of Mr. Wood’s projections, both with existing and new customers. Formtech has been manufacturing custom extruded plastic profiles for more than 47 years, and we are experts in the field of extrusion. We are investing in the company, and have capacity to take on extrusion projects at both our Fairview, Pennsylvania and our Athens, Georgia manufacturing facilities. To learn more about capabilities at either or both of these extrusion manufacturing locations click here for Fairview location and here for the Athens location.
We know how important it is to pick the right partners for the success of your organization. We have along list of client partners who have trusted our company for their custom profile needs for many, many years. We work everyday to maintain the trust of our customers, and work consistently to keep our customers out in front of technology we can bring to them in an ever increasingly competitive world. We believe we are “just what the doctor ordered” when it comes to plastic extrusion, and we have the right people to help with material selection, design for manufacture, tolerance development, and even prototyping. Click on the “Doctor” to learn more about the services we can offer to you as you start to work on your next project.
Give us a call at 614-531-9954 or email at firstname.lastname@example.org for more information or a quotation.