A Podcast featuring Parkway CEO Andrew Green.

Driven By with Sam Coates

NASHVILLE, Tenn. – Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Bob Rolfe and Parkway Products, LLC officials announced today the company will invest $5.7 million to expand its existing operations in Greene County.
Parkway will create 160 new jobs at its injection molding facility over the next five years.

Source

 

Parkway Greeneville was featured in The Greeneville Sun's annual Salute to Industry publication.

Manufacturing Today Issue 190 July 2021; Advanced Solutions Segment

Though Parkway Products has an extensive history, advanced technologies, industry-leading expertise and a deep understanding of the markets it serves, CEO Andrew Green was first attracted to the company by its culture. An industry veteran with experience of multiple organizations, Andrew knew instantly that Parkway was different from the rest.

To read the full article, click here.

FOR IMMEDIATE RELEASE:

Parkway Products Celebrates 75 Years

April 1, 2021 Marks the 75^th Anniversary of Parkway’s Founding

Greenville, SC – April 1, 2021 – Parkway Products, LLC announced today that it is kicking off a year-long celebration of its 75^th Anniversary. 

Updated: Parkway Products LLC acquired two facilities from Injection Technology Corp. to expand its large-tonnage thermoplastic injection molding capacity.

Southeast US transaction expands Parkway's Regional Large Tonnage injection molding capacity

Las Vegas — In June, the U.S. economy should set a record for the longest economic expansion in history. Housing economists think the streak will continue, but they see rising risks for a mild recession in 2021.

Midwest US merger expands Advanced Technology Offering and AS9100 Aerospace Certified Footprint

The number of North American automotive launches has softened this year, and that's hitting mold and die makers, according to a third-quarter report from Harbour Results Inc. and the Original Equipment Suppliers Association.

As a molder of PEEK in the Atlanta facility, Parkway follows any news that might affect the supply or pricing of one of its highest performance polymers.

China's decision to crack down on plastics recycling imports will mean dozens of jobs in rural Georgia.

Prominent suppliers to injection molders throughout the world team up to offer better materials solutions.

Solvay adding capacity in US to support aerospace customers

From Plastics News:

Washington — A U.S. plastics industry trade group is giving cautious praise to the Aug. 27 announcement from the U.S. and Mexican governments that they've struck what they're calling a "preliminary agreement" to replace NAFTA.

Parkway was honored to be featured in Manufacturing in Focus's August 2018 issue in the article titled, "Where Valued People Make Valued Products" - an article that truly captures the essence of what Parkway is all about.  Click on the link below to read about Parkway's history, niche product technologies, recently acquired TN facility, and most importantly, how Parkway puts its employees first, from health and well-being to competitive wages and benefits.  Parkway is the employer of choice in every town it operates because all levels of management value the employees as an integral, vital part of the company as a whole.  

Parkway has announced the relocation of its Corporate Headquarters from Florence, KY to Greenville, SC

Larger Tonnage Thixomolding Capability Offered at Loveland, CO Facility

Parkway is excited for their new location in Greeneville, TN. LMR Plastics is a great addition to our company and the local paper wrote an article about it! 

Plastics News features Parkway's newest acquisition of LMR Plastics. This adds a location in Greeneville, TN and large tonnage machine abilities.

Parkway is very excited to add LMR a Parkway Company to the team! 

TN add-on expands technology offering and broadens regional operating footprint

Three major trade groups (Plastics Industry Association, Canadian Plastics Industry Association, Asociacion Nacional de Industrias del Plastico A.C.) met in Mexico City, Mexico to discuss a list of priorities for plastics in upcoming negotiations. Things discussed included continued support of the growth and development of the North American plastics industry, harmonization of regulations, review the Rules of Origin, etc. 

From Plastics News:

A common trend in the Plastics industry is the M&A activity. Strategic buyer acquisitions are up 9% in the last year 1H2016 versus 1H2017. The market is on track to reach a total of a 300-deal level for the 11th consecutive year. There has also been a trend that ownership by private equity groups have increased from 7 percent to 11 percent in the comparison period of 1H2016-1H2017. This article also includes professionals that discuss whether or not the plastics industry is currently a peak market, concern for the number of sellers available, and other impacting sources to the M&A market.

This article by Mold Making Technology discusses hot runners versus high performance polymers. Parkway directly works with PEEK and Torlon materials in which we serve Aerospace & Defense, Automotive and Industrial end markets. This information presented in the article helps explain the right way of handling these types of materials correctly while utilizing a hot runner for production.

As you read through this article, they explain the relationship between particular resins (PEEK/PAEK) and the use C of hot runners versus cold runners. In many cases, the use of cold runner lead to materials being unable to be recycled or reground. In the end, hot runners are the best choice for small to medium sized part applications as long as the melt channel is maintained at a ±5ºC temperature to avoid any hot/cold spots for crystalline polymers. 

In this video, the impact NAFTA has on the automotive industry is discussed. Currently, NAFTA has positively effected the automotive industry as a whole, but an update is needed. Changes may have a negative significance without meaning to create the cause. Right now a car built in the NAFTA region is ruled to 62.5 percent, the rule of origin to qualify the vehicle for trade benefits. A panel of five auto industry groups all urged caution around increasing this percentage. 

From Plastics Technology:

Currently, thermoplastic material offerings have improved and these developments have offered the automobile industry more options to be a solution of light-weighting, a dominant theme in automotive effort to achieve fuel efficiency. The industry has also focused on a number of performance requirements: resistance to heat, wear, sunlight, and fuels and chemicals. These focuses in the goal has improved process-ability to enhance quality and reduce manufacturing costs.

From Plastics Technology:

High performance plastics are expected to grow at a pretty heftly annual rate. Dublin-based Market & Research (US location in NY) released a global forecast projected out to 2026. They think the market will reach $35.7 billion, with a CAGR of 9.3% from 2016 to 2026. This growth is expected due to the increased demand for manufacturing interior and exterior components for the automotive and aerospace industries. High performance plastics have superior mechanical properties, chemical resistance, and high-heat stability that cater to these specific market needs. The study identifies polyetheretherketone (PEEK), a material that Parkway utilizes in our High Performance Polymers Molding facility, as one of the top two fastest growing segments when considering volume and value in the high performance plastics market.

From Plastic News:

The United States should be prepared for the renegotiation of the North American Free Trade Agreement (NAFTA). This renegotiation is President Trump's effort to bring production jobs back to the United States. Due to this action, trade experts are warning auto companies to develop action plans to deal with potential changes that could effect the supply networks that have been in place for a quarter century. 

Plastic News has released what they think are the markets that will be the most "optimistic" in 2017. With both Automotive and Medical being their top two, Parkway supplies to these two markets along with a couple others identified on the graph. Automotive is strikingly at 27% while Medical is expected to be at 21% in the overall market place of Plastics. Parkway also serves the Energy, Defense, Aerospace and consumer goods sectors. 

According to the latest statistics published by Autodata Corp., U.S. light vehicle sales in March totaled 16.6 million annualized units. When comparing February numbers, there was a 5.5% decrease in the sales total. Within the first quarter, there was an overall decline when comparing to 2016. This article continues to point out some trends that are starting to come to surface where auto sales might start to continue to climb in the market.

Plastics are being used in the Aerospace sector of today's market. Parkway takes great pride in supplying this industry and is happy to share information in regards to identifying what plastics may be used for in this industry. Aeronautical engineering has evolved throughout the years in both practical upgrades and striking advances. These improvements impact civil aviation, military aircrafts and missiles, satellites, space shuttles, and space exploration. As this article explains what plastics are specifically used for whether it is a camera used on the moon to take pictures or for a fuselage made up by reinforced composite plastic panels for an airplane, the Aerospace industry is definitely a consumer of plastic products.

You don't really realize how much of a role plastics play in every day life. Plastics are very beneficial to us and are used in mobile phones, televisions, computers, calculators, cars, water bottles, healthcare materials, and many more things that we use in every day life. When we consume these plastic products, we may live a healthier and happier life due to its use in the healthcare industry. 

Parkway serves the healthcare industry through a number of technologies and takes pride in being a supplier for products meant for healthcare use.

The rate of mergers and acquisitions activity has experienced strong levels in 2017. Companies are being pressured to achieve efficiency improvement and profit in today's slow-growth economy. In the plastic industry, there has been continued strength in market, therefore there has been tremendous M&A growth. So in result, the plastic industry is experiencing booming M&A activity continued from 2016 into 2017. 

Polyetheretherketone is known as PEEK. Parkway uses this material in the Atlanta facility to produce High Performance Polymer products for customers. This material is used to meet application needs that require outstanding physical and chemical material properties. PEEK is used in a wide range of application segments including automotive, industrial, aerospace, electrical & electronics, medical and other applications. 

The below report analyzes and forecast the market for PEEK material at both the global and regional level. The market has been forecasted based on revenue and volume from 2016 to 2024, with 2015 being the base year. The study covers both the impact of drivers and restraints on demand for PEEK and highlights opportunities in the PEEK market at the global and regional level. 

Injection molding is the core process in the plastics industry. This process has experienced gradual and unrelated developments over time and at different parts of the world. One of these developments was multi-material injection molding composed by V. Goodship and J.C. Love at the University Warwick. Multi-material injection molding was a best preference as it enabled plastic producers to make a unique formulation and produced a particular desired product output.

By reading this article you will learn more about automation and other types of injection molding technologies.  

A new trend has been viewed at the North American International Auto Show in Detroit. The front of vehicles have been considered a new blank slate for design, specifically the grille. Now, the exteriors of vehicles are including "seamless" front ends with headlights, sensors and other components tucked behind a single tinted PC panel. This panel includes lighting that brings a third dimension on top of function and style. It may be the key differentiator of cars in the future.

Although Parkway does not serve the packaging industry, we are happy that a fellow manufacturer based in Cincinnati, Ohio is focusing on recycling plastic garbage from beaches to produce packaging for their shampoo. This is a great way to focus on environmental healthy efforts for the good of our planet. Procter & Gamble Co. is teaming up with TerraCycle Inc. to recreate this first ever shampoo bottle containing up to 25% recycled beach plastic.

We at Parkway commend your efforts!

The automotive industry continues to change particularly with sensors be more dominant in its development. There are already adaptive cruise controls and lane departure warning systems in higher end cars. With these advancements, the plastics suppliers are presented with new opportunities in the auto industry.

As time goes on, there have been changes where there may be levels of automation. There may be a car where you simply put in the address of the location you are wanting to travel to or a lighter version where a driver must be on standby to be ready to recover controls if a situation requires it. There will be a series of steps when this development starts to go onto market. The article by Plastics News give more information on these steps.

With the automotive industry always striving for improvement, vehicles are incorporating touch screens but also keeping basic functions on the dashboard. As more plastic is used in interiors, injection molding and thermoforming are accommodating when designers want a more organic appearance and flexibility. "Interior components that were previously metal can now be made with plastic to look like metal, and the same is true of wood," says Marshall Paterson, Vice President at Advanced Decorative Systems. Paterson sees innovative things to come such as sitting a phone on the console and inductively charge your cell phone. Now being 2017, we can only wait for these innovations in the Automotive Industry.

Now that it is almost the New Year, Plastic News reports the injection press makers see a positive 2017. They believe the market is at a high stable level, continuing after 2016. Equipment officials say that U.S. shipments have topped 4,000 in 2015, and reached 4,100 presses. This is an important benchmark that is considered a fundamental segment of the capital machinery sector for plastics and plays as an economic indicator for the entire industry.
This article discusses the impact that the automotive industry has in this stability identified and expected as well as discuss post-election impact for 2017.

Now that it is after Christmas and people will soon take down their trees, we look at the comparison in sales for both real Christmas trees and plastic Christmas trees. Click on the hyperlink below and you'll see that sales have been consistently higher for real trees from 2009 - 2015.  Why you may ask? Well plastic Christmas trees are reusable and can be stored away for the following season so people don't need to buy a tree every year. Although Parkway isn't in this plastics market, we see the value of using plastic trees as being environmentally friendly. But either way, enjoy your Christmas tree traditions and we hope everyone has a great holiday season!  

So it is the holiday season, you are probably shopping for the perfect toy to give your son or daughter. Right now there are sales and plenty of toys to choose from at every store. But what's in store for the toy industry?
Toy demands ride its own growth arc while there's discussion regarding international trade. Although Parkway doesn't serve this market, it is interesting to know that the U.S. toy consumption this year will grow as much as 6.5 percent, a continuing growth trend evident for the past several years, and see what may happen after this past election. The U.S. market is worth $21 billion a year and it heavily depends on international supply chains.

The automotive industry continues to develop especially when it comes to designing lighter parts using plastics. An Australian researcher invented plastic auto side mirrors and they are expect to be exported to the United States. There are 4 key advantages reported about these new mirrors in comparison to traditional glass mirrors.

This article provided by Plastics Today discusses what automotive suppliers should expect within 2017. With the automotive market driving to improve vehicles by making them "lighter", this article discusses the impact the automotive industry will take moving forward. The author advises suppliers to listen and plan accordingly when forecasting, points out trends that suppliers may see when working within the automotive industry right now, and urges suppliers to understand that they must be ready to adapt to a drop in demand if it happens.

BCC research reveals in a new report that shielding product manufacturers are increasingly challenged when developing shielding and suppression technologies that provide effective remedy. These small electronic devices call for increased functionality at lower costs. This report reviews and analyzes EMI and RFI problems that are encountered in the operation of electronic equipment and identifies the key implications for plastics (including both competitive materials and technologies) used to suppress that interference.

The U. S. Department of Transportation imposed a strict Corporate Average Fuel Economy (CAFE) Standards on automakers in 1975. Ever since, automakers have been focused on making vehicles lightweight to reduce fuel consumption. By 2025, vehicles are expected to boast an "average" fuel economy of 54.5 mpg. This opens the doors to identifying more lightweight and useful technologies such as Magnesium Thixomolding to use when designing automobiles. The following article explains the move to magnesium where shaving off ounces or even fractions of ounces would help achieve a lightweight vehicle. 

During the month of September, there were planned shut downs and tight supply via material suppliers. This caused an increase in price for both Polyethylene and Polypropylene. The Polyethylene price increased to $0.05 per pound while Polypropylene reached $0.06 per pound in North America. PE prices were flat for 4 months until September.

Parkway is very excited to be ranked in the Top 100 Injection Molders for 2015. New rankings were published by Plastic News on June 13, 2016.
For 2014, Parkway was rewarded 86th. For 2015, Parkway stays ranked in the Top 100 as 90th.

Bill Wood studied data and trends of the Automotive market in the United States. He found that the market is still in high demand for parts, but the rate of growth will remain moderate. So far for 2016, the growth rate is below two percent. In 2015, sales grew more than five percent. That seems like a difference, but the market continues to rise consistently. To learn more about Wood's findings, read the article.

Bill Wood discusses investment with the relation to industrial equipment and labor productivity. Since the recession, the U.S. economy expands just by 2% per year. Wood explains that this 2% isn't enough to really improve the economy but investment is the answer.

Plastic News covers the growth in South Carolina for the Plastics industry. Automotive companies have increased their presence in this state, including BMW and Volvo Car USA, that have impacted the growth immensely. There are more than 400 plastics, composites, and rubber manufacturing companies and supplier across this state.

A few of us at Parkway had the pleasure of attending the Plastic News Marketing Summit in Itasca, IL. There, we got to hear a number of experts talk about marketing and sales in relation to the plastics industry. For the industry, B2B marketing applies to the relationships that molding facilities have with their customers. The following article discusses one discussion of trends in B2B marketing amongst 4 experts: Mike Hensley, President and Cofounder of gyro, E.J. Schultz from Advertising Age, Sue Harrison of Davis Harrison Dion, and Patty Knap from Edelman Corporate Practice/Americas Region.

Parkway was so glad to attend the Plastics News Marketing Summit event at Itasca, IL. Plastics News brought a number of keynote speakers to speak about marketing principles and how to apply marketing trends to the plastics industry. The following article presents speakers Gary Slack from Slack and Co., Teresa Schnell, President of Vive, LLC, Gene Sanders, President and CEO of G-Force Inc, and others who discussed both Sales and Marketing practices.

Now that it is baseball season, the plastics industry is impacting a number of Major League ballparks with a new netting made for the safety of crowds. This ultrahigh molecular weight polyethylene weave will make watching a game much more enjoyable.

Read this interesting article from Plastic News about how the composites industry is impacting the way we build architecture.

This particular article discusses the San Francisco Museum of Modern Art as it uses ripple-faced fiber-reinforced-polymer panels to simulate the water nearby San Francisco Bay.

 

According to this article, the automotive industry is favoring new technology for cars. They are starting to implement voice commands in cars, more touch screens and also still providing traditional knobs in vehicles. This may be driven solely on the preference of the driver.

Plastics News takes a closer look at the automotive industry and analyzes Mexico's growth as an auto manufacturing hub. Mexico has clearly become a supply base for the United States and Canada.

Learn about Magnesium and see what's true and false about the material Parkway uses for Thixomolding.

The market for medical equipment and supplies are expected to continuously grow in 2016. This is based on a quarterly Business Monitor Index Survey of processors, compounders and tooling suppliers that supply the medical industry. The fourth quarter in 2015, the PN Business Monitor medical index was 119.1, any value above 100 indicates that business activity levels increased in comparison to the previous quarter. With this knowledge, the medical sector is expecting and upward trend in 2016.

Global automakers are investing a lot of money in new capacity in Mexico, creating new opportunities for plastics processors and other suppliers.

But smaller U.S. and Canadian companies that are interested in pursuing growth in Mexico face a variety of challenges, according to Daron Gifford, partner-in-charge of the strategy consulting practice at Plante Moran LLC.

"Numbers that Matter" by Bill Wood appears in Plastic News twice monthly. Trends and data are analyzed to help plastics company manager forecast next quarter and next year. This article describes what to expect in 2016 in comparison to 2015.
In 2015, the automotive market experienced the highest sales total on record. There is an expected decline of 2% in total sales in 2016.

Parkway Products is excited to welcome Steven Barela to the team. He is Parkway's Thixomolding Product Manager.

In a consolidation of the French automotive sector, Faurecia SA is selling its automotive exteriors business to Cie. Plastic Omnium SA in a transaction valued at 665 million euros ($732.4 million).

The red-hot vinyl record market has drawn the attention of press makers and subscription service Columbia House, plus a national microbead ban is signed into law.