Parkinson Technologies has experienced record growth in 2008, seeing increased sales of more than 30% from 2007. To keep up with the increased demand for the company’s products, which include Marshall and Williams plastics processing systems, Parkinson Winders and Key Filters melt filtration equipment, Parkinson has added numerous employees (the company’s workforce was expanded by 15%) and restructured its operations organization.
In addition to adding employees, the company has expanded its manufacturing department by adding additional CNC machining centers to keep up with the demand for machinery and spare parts orders.
2008 Market Trends
Parkinson experienced strong sales of its machinery to the plastics industry for film and sheet applications in North America, Europe and Asia. This included sales of Marshall and Williams machine-direction orientation (MDO) systems and Biax-Fiberfilm production lines and numerous Parkinson winders. However, the company also saw strong activity in other markets including rubber, nonwovens and paper applications.
In addition, the company’s state-of-the-art pilot production facility was busy throughout 2008 with projects for many emerging technologies and applications, including bioplastics development.
“We have had a breakthrough year in 2008,” said Peter Termyn, president and CEO of Parkinson Technologies. “Going forward, our plan will continue to be to realize solid, sustainable growth and we’re highly focused on achieving these objectives.”
Confidentiality agreements and proprietary product development prevent Parkinson from mentioning most customer names or talking about projects. “A lot of what we work on with our customers is cutting-edge technology, for products and applications that are new to the market,” said Mr. Termyn. “Our reputation for product development is strong and that has led many top material suppliers and processors to work with us to develop their next big idea.”
Parkinson has a healthy backlog going into 2009. “While we are in a down economy, there are still opportunities out there for companies that can offer the right product and service solutions to its customers,” said Mr. Termyn. “It’s a global market and we are poised to continue the success we’ve achieved in 2008.”