UFP Technologies
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Type | Public |
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Nasdaq: UFPT Russell 2000 Component | |
Industry | Health Care Products Manufacturing |
Founded | 1963 |
Headquarters | , |
Key people | R. Jeffrey Bailly (Chairman, CEO, and President) Ronald J. Lataille (SVP, Treasurer and CFO) Christopher P. Litterio, Esq. (General Counsel and SVP, Human Resources) Mitchell C. Rock (President, MedTech) Steve Cardin (VP, COO, MedTech) Jason Holt (VP and General Manager, Advanced Components) Daniel J. Shaw, Jr. (VP, Research and Development) [1] |
Products | Custom Medical Devices, Sub assemblies, Components and Packaging |
Revenue | $179.4 MM (2020)[2] |
Number of employees | 860 (2020)[3] |
Website | www www |
UFP Technologies, Inc., founded in 1963 and based in Newburyport, Massachusetts, is a designer and custom manufacturer of components, sub-assemblies, products and packaging utilizing highly specialized foams, films, and plastics primarily for the medical market.[4]
Products and Services[]
UFP Technologies manufactures its products by converting raw materials using laminating, molding, radio frequency and impulse welding and fabricating manufacturing techniques. Their single-use and single-patient devices and components are used in a wide range of medical devices, disposable wound care products, infection prevention, minimally invasive surgery, wearables, orthopedic soft goods, and orthopedic implant packaging.
UFP Technologies, however, is diversified in also providing highly engineered products and components to customers in the aerospace, defense, automotive, consumer, electronics, and industrial markets. Typical applications include military uniform and gear components, automotive interior trim, athletic padding, environmentally friendly protective packaging, air filtration, abrasive nail files, and protective cases and inserts utilizing a variety of materials such as foam (cross-linked polyethylene, reticulated, melamine, specialty foam), woven and non-woven fabric, molded pulp, plastics (rigid, rubber, corrugated), natural fibers, films and adhesives.[5]
The Company has also developed a line of standard products that are trademarked and branded, including:
- FlexShield - a flexible thermoplastic polyurethane film used for medical packaging, component, and product applications.[6]
- BioShell - a container system designed to protect single-use bioprocess bags during storage, handling and shipping.[7]
- CryoShell - an insulated shipper is to keep BioShells and other bioprocess bag container systems within an adequate temperature range during transportation.[8]
- T-Tubes - insulation system specifically developed for process lines in cleanroom environments.[7]
- Tri-Covers - foam caps designed to block and protect sanitary ends.[9]
- Controlclean - absorbent wipes used to clean surfaces within cleanroom and controlled environments.[10]
- Wine Packs - wine shipping solutions made from molded fiber.[7]
- FirmaLite - lightweight, high strength automotive load floor made from a patented composite structure[11]
- Pro-Sticks - reusable sanitizable nail file system.[7]
Corporate History[]
UFP Technologies, formerly known as United Packaging Corporation, was founded in 1963 by William H. Shaw, Robert W. Drew, and Richard L. Bailly in Woburn, MA. Within one year the company expanded operations and moved its factory headquarters to Georgetown, MA. In 1967, the company changed its name to United Foam Plastics Corporation to reflect a broader market capability. On December 17, 1993 the company completed its initial public offering and formally changed its name to UFP Technologies, Inc.[12][13]
Awards[]
UFP Technologies was named to the Fortune Small Business 100 list of the fastest-growing, publicly held small companies in the U.S. in 2009 and 2008, with a rank of 47th and 75th, respectively.[14][15]
UFP Technologies was named to the Forbes 100 Best Small Companies in America in 2011 and 2010 with the rank of No. 64 and No. 12, respectively.[16][17]
In May 2013, UFP Technologies was named to the Globe 100 for the eighth consecutive year with the rank of No.60 in 2013 and No.67 in 2012.[18]
UFP Technologies was named one of the "Best & Brightest Companies to Work For In The Nation®" in 2018 and 2020.[19][20]
Acquisitions[]
In 1993, the Company acquired Moulded Fibre Technologies, which focused on recycling old newspapers into molded fiber packaging for light industrial goods, electronics, and health and beauty products.[21][22]
On February 4, 1997, UFP Technologies acquired the assets of FCE Industries Inc., formerly known as Foam Cutting Engineers, a supplier of foam plastics for industrial and consumer applications.[23]
UFP Technologies acquired Pacific Foam Inc., a producer of specialty foam products for the health and beauty industry, in December 1998.[24]
In 2000, UFP Technologies acquired Simco Industries Inc., a full-service supplier of automotive trim components.[25]
UFP Technologies acquired three companies in 2009: Advanced Materials Group, a foam fabricator based in Rancho Dominguez, California,[26] Foamade Industries Inc., a manufacturer of foam products and industrial machinery[27] and E.N. Murray, a designer, converter, and distributor of foam plastic products, specializing in technical polyurethane foams.[28]
In January 2013, UFP Technologies acquired Packaging Alternatives Corporation, a full service designer, converter, and distributor of foam plastic products, specializing in technical polyurethane foams principally for the medical market.[29]
On February 2, 2018, UFP Technologies announced the acquisition of Dielectrics, Inc. based in Chicopee, MA, a designer, developer, and manufacturer of medical devices using thermoplastic materials as well as the innovator of the Reebok Pump introduced in 1989.[30][31]
Investments[]
In September 2013, UFP Technologies spent approximately $550,000 to build its sixth clean room, aiming to expand further into the medical device field.[32][33]
In August 2014, UFP Technologies expanded its Georgetown, MA, operation with the addition of a clean room and high volume equipment to support the production of components made from medical grade thermoplastic polyurethane.[34]
UFP Technologies expanded its North American operations for molded fiber packaging with a new location in El Paso, Texas in November 2014.[35]
In 2016, UFP Technologies relocated its corporate headquarters from Georgetown, MA to Newburyport, MA.[36]
References[]
- ^ "Executive Officers".Official website
- ^ "UFP Technologies 2020 Results".
- ^ "UFP Technologies 2020 10K" (PDF).
- ^ "UFP Technologies 2018 10K" (PDF).
- ^ "UFP Technologies Inc".
- ^ "UFP Technologies, Inc: Medical device pouch".
- ^ a b c d "UFP Technologies Inc (UFPT.O)". Reuters.
- ^ "Single-Use Bioprocess Bag Protection | BioShell by UFP Technologies". BioShell.com. Retrieved 2020-08-06.
- ^ "Sanitary End Caps Prevent Particle Migration".
- ^ "CONTROLCLEAN™".
- ^ "FirmaLite® Load Floors". www.ufpt.com. Retrieved 2019-04-03.
- ^ "UFP STOCK OFFERING RAISES CASH - Plastics News". Retrieved 2016-07-14.
- ^ "Specialists in Foam Fabrication & Molded Pulp Production | UFP Technologies". www.ufpt.com. Retrieved 2016-07-14.
- ^ "FSB 100 Full list of 2009".
- ^ "FSB 100 Full list of 2008".
- ^ "UFP Technologies". Forbes.
- ^ "In Pictures: The 20 Best Small Companies In 2010". Forbes.
- ^ "2013 Globe 100 rankings". The Boston Globe.
- ^ "Best & Brightest Companies to Work For In The Nation® 2018". The Best and Brightest.
{{cite web}}
: CS1 maint: url-status (link) - ^ "Best & Brightest Companies to Work For In The Nation® 2020". The Best and Brightest.
{{cite web}}
: CS1 maint: url-status (link) - ^ Cassidy, Tina (Jun 18, 1995). "To recyclers, the proof is in the packaging". Boston Globe. Retrieved 13 January 2015.
- ^ McCloy, Andrew (August 26, 1993). "Maine buyout expands United Foam's market". The Eagle Tribune.
- ^ "UFP BUYS FCE INDUSTRIES' ASSETS".
- ^ "THERMOFORMER UFP PURCHASES PACIFIC FOAM".
- ^ "UFP Technologies Acquires Simco Industries, Inc".
- ^ "UFP Technologies Acquires Selected Assets of Advanced Materials". Bloomberg News.
- ^ "Company Overview of Foamade Industries, Inc".
- ^ "UFP Technologies Acquires E.N. Murray Co". Bloomberg News.
- ^ "UFP Technologies Acquires Packaging Alternatives Corporation". Bloomberg News.
- ^ "UFP Technologies acquires Dielectrics, Inc". Yahoo News.
{{cite web}}
: CS1 maint: url-status (link) - ^ ""When People Get Out of My Way, I Can Create Magic:" The World According to Steven Smith". www.withotis.com. Retrieved 2021-03-24.
- ^ "UFP Technologies opens new clean room".
- ^ "UFP Technologies Expands Illinois Plant".
- ^ "Medical manufacturer adds clean room, machinery".
- ^ "UFP Technologies expands molded fiber operations".
- ^ WRITER, BY DYKE HENDRICKSON STAFF. "UFP to relocate jobs to Newburyport from Georgetown, Haverhill". Retrieved 2016-07-14.
External links[]
- Manufacturing companies established in 1963
- Companies listed on the Nasdaq
- 1963 establishments in Massachusetts