PSI-Polymer Systems, Inc. Enters It's Tenth Year Serving The Plastics Industry Conover, NC (April 29, 2010)
Layoffs and high unemployment. Companies going out of business. A credit crunch. Yes, the year 2000 was a very difficult time to start a business.
Yet that’s exactly what Glenn Woodcock did 10 years ago. On February 1, 2000 PSI-Polymer Systems Inc. began operations in Hickory, North Carolina. And it was a tremendous challenge to generate sales in a down economy, one that Woodcock says was every bit as bad as the great recession of 2009.
“That first year was tough,” recalled Woodcock. “People tend to forget that there were serious economic problems and a business downturn in 2000, which in many ways was more severe than what we’ve experienced over the past couple of years.”
Proving once again that good things can come from bad times, PSI has enjoyed continuous growth over the past 10 years. Since rising up out of that down economy of 2000-2001, PSI has supplied the industry with well over 1,000 system/equipment packages in that time, and shows no signs of slowing down.
‘Dream Team’ of Extrusion Technology Experts
Woodcock, a veteran of the plastics industry, started PSI in 2000 by forming a ‘dream team’ of well-known players, including key business associates Steve Fox (President /Founder of Normag Corporation) and Bart Jones (President/Founder of Extek Corporation).
“We combined our experience in extrusion gear pump and melt filtration products,” he said. “The industry was looking for alternative suppliers and we all had a good background in plastics. Steve and Bart were considered industry experts in gear pumps and screen changers, respectively. So we merged our expertise and went at it.”
A Better Business Model
It was apparent from the start that PSI was not your typical plastics auxiliaries company. “Steve and Bart got some strange looks when they handed out their business cards,” said Woodcock. Instead of traditional titles such as ‘Vice President’ or ‘Sales Manager’, Fox and Jones’ cards said ‘The Gear Pump Man’ and ‘The Screen Changer Man’. “Why not?” said Woodcock. “Everyone in the industry associated Steve with gear pumps, and Bart with screen changers. We were just trying to have some fun.”
But it was serious business. The company set out from the beginning to create a different business model from other plastics industry auxiliary equipment providers. From the start, Woodcock felt that it was important to offer the industry complete system packages and equipment that met each customer’s specialized process & application needs. This consultative approach made PSI more than just another equipment supplier.
The company’s success showed that this was a business model whose time had come. PSI’s approach of providing quality service with value engineering has served them well. “Each and every job we undertake is carried out by understanding our customers needs first,” said Woodcock. “Once we have that understanding, we are able to provide them with the best product and service for their money.”
U.S.-Based, Serving the World
PSI’s initial focus of sales and distribution was North and South America; however the company expanded very quickly to become a worldwide supplier. They increased their facility size three times over eight years and moved into their present 50,000 square foot facility in Conover, North Carolina in June 2009. All of the company’s products are proudly made in the U.S.A. at the company’s headquarters.
“As we celebrate our 10th year in business, it is important that we honor those individuals that helped us reach this point, the staff at PSI,” said Woodcock. “A strong desire to do the job accurately and on time is demonstrated on each and every project, by each and every employee.”