By Mike McNulty, Rubber & Plastics News staff
Las Vegas, Nevada -- Very few successful businesses blessed with the umbrella of a strong parent group are willing to head off on their own in the middle of a recession.
But that's exactly what Puma Polymers llc did in June 2009 when two company executives -- Pathway Polymers Inc. president Gerret Peters Jr and chief strategy officer James Sowersby -- bought the specialised urethane products division from Pathway.
The officials figured by focusing on the speciality elastomers business, the diversified firm would be able to make better, quicker and timelier decisions to help the company succeed without having to go through a long chain of command.
So far, that plan has been working well.
The company had a down year in 2009, Peters said, but the market has been strong for the speciality chemicals business during the last several months.
"Things are looking up for us. We've doubled our business compared to last year at this time," he said.
He said the firm is developing products at the rate of one to two a month, and if its current growth continues the firm will be looking to expand into a new facility in the future.
See more in the June/July edition of Urethanes Technology International.