Owner of Universal and Mayfield Plastics Discusses Importance of Financing in Managing Company Growth
Holyoke, MA. - Jay Kumar, owner of thermoforming companies Mayfield Plastics and Universal Plastics, was recently a featured speaker at The Plastics Financial Summit organized by Plastics News in Chicago in June. The Plastics Financial Summit is one of the industry’s signature events on financial management and turning a profit in a competitive industry. This conference brings together business owners and executives, the investment community, and experts focused on helping businesses succeed amid a myriad of issues facing small and mid-sized plastic processors.
“Financing is an important driver to managing our company efficiently, resulting in superior performance for our customers,” Kumar said. Kumar was a featured panelist on the Processors Panel discussing Company Growth and the Use of Financing from an Operator’s Perspective. “Our group focused on how to use funding to grow your business. I discussed our strategy of investing in businesses with a substantial asset base on which we can borrow as well as taking advantage of the current low rate environment to secure funds for future use,” Kumar said.
This is the plastics industry’s only conference exploring the financial side of operating a business and covered topics including the best corporate entity for your business, how to add value to products to improve profit margins and advice on preparing your company for sale and maximizing the value of your business.
About Mayfield Plastics:
Mayfield (www.mayfieldplastics.com) is a leading manufacturer of custom pressure, vacuum formed and thermoformed parts and components specializing in thermoformed medical devices and components, but also serving a variety of additional industries including aerospace, telecom, electronics, computer, hospital, chromatography, machine-tool and transportation. In 2013, Mayfield Plastics was purchased by Jay Kumar, who also owns Universal Plastics, a custom thermoformer based in Holyoke MA with the intent of growing the thermoforming business locally through the combined strength and synergies of both companies. Together, Mayfield Universal Plastics represent the largest thermoformer in New England and are proud to offer a manufacturing service which is state of the art. Equally, as a family-run business, Mayfield Plastics takes special pride in upholding a strong commitment to its customers and employees. For more information about Mayfield Plastics, please visit www.mayfieldplastics.com.
About Universal Plastics
Universal Plastics is a custom thermoformer based in Holyoke MA with strong legacy of expertise in manufacturing thermoformed plastic parts of the highest quality with a distinct focus on customer satisfaction. Universal has been in business for over 50 years with a world class management team and currently serves customers in a variety of industries including aerospace, medical device manufacturers, transportation, consumer products, food packaging and electronic companies.
As a custom manufacturer, Universal has made kayaks, air ducts for the Space Shuttle, all of the bus stop signs currently used in New York City and the bow of the submarines used by the Navy Seals. In 2008 they added a 30,000 square foot addition to their Whiting Farms Road building for a total of 100,000 square feet of production and office space. The company is ISO 9001 certified. For more information visit www.universalplastics.com.