Phillips Plastics, strongly anchored in Wisconsin for its 47-year-old history, will continue to expand globally, president and CEO Matthew J. Jennings told PlasticsToday.com in an interview.
The company almost doubled in size two months ago with its acquisition of Medisize (Vantaa, Finland) and now ranks as one of the two largest contract medical manufacturers in the world. Phillips Plastics' revenues are close to $500 million this year, with 75% based on medical.
"We are listening closely to what our customers are telling us and where they want to be," Jennings said. China often comes up in the conversation. "China used to be regarded as a low-cost manufacturing location for products sold in North America or Europe. China is now emerging as a large market where our customers in the medical market are interested in having a presence."
Jennings noted in the interview that one of the advantages of now being part of Kohlberg & Co., which acquired Phillips Plastics late last year, is that the company has the financial backing to grow....