Autronic Plastics, Inc. (API) Company Profile

Background

Founded in 1953, Autronic Plastics, Inc. (API) has evolved from a small plastic molding company into a leading custom injection molder renowned for its service, creativity, technology, and commitment to excellence. The company's mission is to provide innovative plastic solutions across various industries, including medical and dental, automotive, life safety, lighting, aerospace, military, defense, and consumer products. API's vision emphasizes continuous improvement and delivering products that positively contribute to society and the environment.

Key Strategic Focus

API specializes in processing difficult-to-handle engineering resins and high-percentage glass-filled materials, positioning itself as a go-to partner for complex plastic components. The company's core objectives include:

Design and Engineering: Offering comprehensive product design and engineering services from concept to completion.

Toolmaking and Molding: Utilizing an in-house mold shop equipped with advanced automation and robotics labs.

Assembly and Secondary Operations: Providing services such as ultrasonic welding, milling, lathing, heat staking, and both automated and manual assembly to deliver turnkey solutions.

API targets markets that demand high precision and quality, including medical devices, automotive components, military and defense equipment, and consumer products.

Financials and Funding

As of recent reports, API generates annual revenues of approximately $26.7 million and employs around 88 individuals. The company has raised a total of $1 million in funding over one round, with capital investments aimed at expanding manufacturing capabilities and developing energy-efficient technologies.

Pipeline Development

API's product development pipeline includes:

Clear-Vu Lighting: Launched in 2008, this brand focuses on advanced LED lighting systems for applications such as construction sites, sidewalks under bridges, and subway tunnels.

LaMar Lighting Acquisition: In 2020, API acquired LaMar Lighting, a manufacturer of LED and fluorescent lighting fixtures, to enhance its product offerings in commercial and industrial lighting.

Technological Platform and Innovation

API distinguishes itself through several proprietary technologies and methodologies:

Advanced Material Processing: Expertise in handling engineering resins and high-performance, glass-reinforced materials.

In-House Mold Design and Manufacturing: Capabilities include multi-action, hot-runner, 3-plate, 2-shot, over-mold, and insert molds.

Rapid Prototyping: Utilization of in-house Fused Deposition Modeling (FDM) machines for quick prototype development.

Energy-Efficient LED Lighting: Development of cutting-edge LED lighting technologies for various applications, including subway platforms and construction sites.

Leadership Team

Michael Lax: Chairman and Chief Executive Officer. Under his leadership, API has expanded its manufacturing capabilities and product offerings.

Tim Keuning: Vice President of Operations. Oversees operational strategies and ensures efficient production processes.

Agjah Libohova: Director of Research and Development. Leads innovation initiatives and product development efforts.

Phil Tjimos: Director of Operations. Manages daily operations and production activities.

Leadership Changes

In 2020, API integrated LaMar Lighting's CEO, Jeff Goldstein, and key team members into its operations following the acquisition, enhancing the company's expertise in lighting solutions.

Competitor Profile

Market Insights and Dynamics

The custom plastic injection molding industry is characterized by a demand for high-precision components across various sectors, including medical, automotive, and consumer products. The market is competitive, with companies striving to offer innovative solutions and maintain high-quality standards.

Competitor Analysis

Key competitors include:

Dynamic Tool & Design: Specializes in precision mold design and manufacturing.

Taurus Engineering and Manufacturing: Focuses on custom injection molding services.

Ramko Manufacturing: Offers a range of plastic molding solutions.

Kaysun: Provides complex injection molding for various industries.

Nicolet Plastics: Known for its expertise in small to medium-sized plastic components.

Strategic Collaborations and Partnerships

API has engaged in significant collaborations to strengthen its market position:

LaMar Lighting Acquisition: Enhanced API's lighting product portfolio and market reach.

ReCharge NY Program: Secured 436 kilowatts of low-cost electricity, supporting job creation and capital investments.

NYSERDA Grants: Received funding to develop energy-efficient LED lighting technologies for subway platforms and construction sites.

Operational Insights

API's strategic considerations include:

Facility Expansion: The 100,000 sq. ft. facility in Central Islip, NY, consolidates operations and enhances production efficiency.

Advanced Manufacturing Capabilities: In-house mold design, rapid prototyping, and secondary operations provide a competitive edge in delivering comprehensive solutions.