— North American plastics processors continue to face significant challenges as they attempt to recover from the recession, according to the most recent industry benchmarking study conducted by Plante & Moran, PLLC, the 12th largest CPA and business consulting firm in the United States.
The report examines the characteristics of successful companies and provides improvement opportunities plastics processors should consider.
“Successful companies maintain excellent pricing discipline with very few sales with less than 10 percent margins,” said Jeff Mengel, Partner and Plastics Industry Practice Leader at Plante & Moran. “Most importantly, they retained slight superiority compared to lower performing companies in just about every cost category — the cumulative impact having a positive impact on the bottom line.”
The 2009 study tracked data from 179 plastics processors in the U.S., Mexico, and Canada. Participant data covered 265 facilities operating 6,612 injection presses in more than 13 million square feet of manufacturing space. Injection molders made up the largest group of companies in the study, which also included extrusion firms, blow molders, thermoformers, and compression molders.
About the North American Plastics Industry Study
Plante & Moran’s annual North American Plastics Study is widely regarded as the most in-depth benchmarking survey available linking profitability and performance in the plastics industry. The study measures key performance indicators in areas such as strategy and marketing, financial performance, human resources, and operations. For hundreds of contributing participants, the study provides an objective view of what drives success in the plastics industry.
The complete 77-page 2009 benchmarking report is available exclusively to survey participants. More information on the study, including an executive summary of the report, is available at http://plasticssurvey.plantemoran.com
About Plante & Moran
Plante & Moran is among the nation’s largest certified public accounting and business advisory firms, providing clients with tax, audit, risk management, financial, technology, business consulting, and wealth management services. Plante & Moran has a staff of more than 1,600 professionals in 21 offices throughout Michigan, Ohio, and Illinois with international offices in Shanghai, China; Monterrey, Mexico; and Mumbai, India. Plante & Moran has been recognized by a number of organizations, including FORTUNE magazine, as one of the country’s best places to work.