A local company's innovation earned it a spot on Michigan's top 50 Companies to Watch list.
MARQUETTE -- Argonics, Inc. produces polyurethane products, or plastics, that can stand the test of time, making repeat business slim. So its president, Robert Flood, looked to volume as the key to his success instead.
“We have a very large dispenser that we use to process our product and dispense it into different molds,” explained Flood, “and our machine pours up to 50 pounds a minute, and most companies are using a machine that maxes out at 10 pounds a minute."
Their innovation has garnered them the honor of being one of Michigan's top 50 Companies to Watch. “The Michigan 50 focuses on companies that are entering into what they call ‘second stage’,” Flood said. “Second stage is typically when you have gone through your start-up phase."
After 16 years in business, Argonics is far from being a start-up. The company now rakes in revenues of $13 million a year and employs almost 100 workers at its plants in Marquette and Louisville, CO.
Argonics, which produces up to 6,000 pounds of polyurethane a day, has been able to maintain its profitability through the economic downturn with the help of their international sales. Up to 30 percent of their sales are from overseas in places like Europe, Australia, and Chile and is growing. Argonics soon plans to expand to a bigger facility in Sawyer to keep up with demand.
“Right now, we have 40,000 square feet that's under five different roofs,” explained Argonics' chief operating officer, Dave Puskala. “And we're going to have 70,000 square feet under one roof at K.I. Sawyer. We should become even more efficient."
But for now, Argonics has put these plans for expansion on hold until the nation's economy improves.