Type Public Industry Packaging & Containers Founder Richard L. Bailly Number of employees 900 (2015) | Traded as NASDAQ: UFPT Revenue $138.85 MM (2015) Founded 1963 | |
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Key people R. Jeffrey Bailly
(Chairman, CEO, and President)
Ronald J. Lataille
(SVP, Treasurer and CFO)
Mitchell C. Rock
(SVP, Sales and Marketing)
Daniel J. Shaw, Jr.
(VP, Research and Development)
W. David Smith
(SVP, Operations) Products Custom Components, Products, and Specialty Packaging Stock price UFPT (NASDAQ) US$ 25.25 +0.50 (+2.02%)28 Mar, 4:00 PM GMT-4 - Disclaimer Headquarters Georgetown, Massachusetts, United States Subsidiaries Stephenson & Lawyer Inc Profiles | ||
UFP Technologies, Inc. is a producer of custom-engineered components, products, and specialty packaging. Founded in 1963 and based in Newburyport, Massachusetts, UFP Technologies manufactures solutions for the medical, automotive, aerospace, defense, electronics, consumer, and industrial markets in the United States.
Contents
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Products and Services
UFP Technologies' applications include custom components, products, commodity packaging, and specialty packaging primarily for the medical, automotive, aerospace, defense, electronics, consumer, and industrial markets.. The manufacturing division uses 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.
The Company has also developed a line of standard products that are trademarked and branded, including:
In 2014, UFP Technologies developed a customizable insulated shipping container for its BioShell Suspension Pack for protecting single-use biopharmaceutical bags during storage, handling, and shipping.
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.
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.
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.
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.
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.
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.
UFP Technologies acquired Pacific Foam Inc., a producer of specialty foam products for the health and beauty industry, in December 1998.
In 2000, UFP Technologies acquired Simco Industries Inc., a full-service supplier of automotive trim components.
UFP Technologies acquired three companies in 2009: Advanced Materials Group, a foam fabricator based in Rancho Dominguez, California, Foamade Industries Inc., a manufacturer of foam products and industrial machinery and E.N. Murray, a designer, converter, and distributor of foam plastic products, specializing in technical polyurethane foams.
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.
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.
In August 2014, UFP Technologies expanded its Georgetown, Mass., operation with the addition of a clean room and high volume equipment to support the production of components made from medical grade thermoplastic polyurethane.
UFP Technologies expanded its North American operations for molded fiber packaging with a new location in El Paso, Texas in November 2014.
In 2016, UFP Technologies relocated its corporate headquarters from Georgetown, MA to Newburyport, MA.