For 61-years prior to our acquisition by North American Plastics (NAP), we were a family business, with myself as the third generation President. Modern Plastics was a successful company, but at the same time had both financial and other growth limiting factors with our business.
Enter a new era in 2006 within the North American Plastics family of companies, where not only were we allowed to preserve the “brand” and name of the company, but we were highly encouraged to run the business as we see fit with a great deal of autonomy and decision making capability at the local profit center level. The size and power of NAP allowed us to expand into a much larger and modernized structure building, purchase large equipment needed for growth, add inventory, increase personnel, and enter new markets. This set the stage for amazing growth that would never have been possible had we remained a family business.
I can attest that after nearly 15-years since our acquisition, this was the single best decision ever made for the employees of Modern Plastics, myself included. Deciding to sell your company is a major decision fraught with emotion, however everything that we were told prior to the sale of Modern Plastics by NAP, was absolutely factual. I have been enabled to run a business with freedom and in a manner that utilizes the full array of resources and market power of NAP in the plastics industry. Best decision ever!
- Bing J. Carbone, President, Modern Plastics