Founding and building a successful injection molding company isn't easy, but when you have the right formula, a company with a successful past can have a radiant future in spite of changes. A year ago next month, Jerry Williams, a co-founder of Prism Plastics, died after a battle with cancer at the age of 51. He and partners Gerry Phillips and Rod Bricker had shared careers in the plastics industry and in 1999 started their own injection molding company, Prism Plastics, in Chesterfield, MI. They rented an 8,000-square-foot building. "We hung out our shingle and we were in business," said Phillips.
"It was tougher than we thought when we first started," Phillips said in an interview with PlasticsToday. Prism Plastics grew rapidly primarily because it was a financially conservative company. "That strategy served us well and helped us achieve success," he said. "We didn't take on debt, and when the 2008 recession came and hit the molding market, we had the wherewithal to weather the storm. We were about $5 million in 2009 and today we're at about $30 million annually."