Growth in Canada contributed to a great year in 2014 for Chase Plastics, a U.S.-based stocking distributor of more than 6,400 specialty, engineering and commodity thermoplastics.
Clarkston, Mich.-based Chase Plastics grew its total revenue to US$217 million in 2014, a nine per cent year-over-year increase, and is on pace to exceed US$260 million by 2016 – growth fuelled in part by the company’s continued expansion in Canada, where it increased year-over-year revenue by 21 per cent and its total customer base by more than 18 per cent.
“Strong increases in business in Ontario (12 per cent) and Quebec (67 per cent) contributed to Chase Plastics’ nine per cent revenue growth between 2013 and 2014,” the company said. “[We] recently hired a bilingual customer service representative to provide additional support for French-speaking customers served by the company’s bilingual sales team in Ontario and Quebec. Sales revenue in Ontario is expected to rise by 25 per cent in 2015, while Quebec sales revenue is expected to rise by an additional 65 per cent.”
Mexico is also an area of growth for the company. Chase Plastics recently signed a distribution agreement with DSM Engineering Plastics, enabling the company to distribute additional materials to Mexican processors serving the automotive and electronics industries, as well as general industries.
“We put tremendous effort into attracting and retaining high-quality professionals to help our customers reach their business goals, and our company’s growth is validation that customers, especially those in emerging markets such as Canada and Mexico, are responding positively to the…service we provide,” said company president Kevin Chase.
Chase Plastics currently employs 100 plastics professionals, serves more than 2,700 customers, and “is trending to exceed its goal of doubling total revenue between 2013 and 2020,” the company said.
