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Riordan Manufacturing History

Essay by   •  September 10, 2011  •  Essay  •  453 Words (2 Pages)  •  1,357 Views

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Riordan Manufacturing, founded in 1991, is an industry leader in plastic injection molding. The company maintains state-of-the art design capabilities; international acclaim earned for the innovative plastic designs. The precise detail, total perfectionism and passionate quality controller are the trademarks of Riordan Manufacturing. Throughout their primary offices in San Jose, California, Albany, Georgia, Pontiac, Michigan, and Hangzhou, China.

Business/Product

Riordan products include plastic beverage bottles produced at its plant in Albany, Georgia, custom plastic parts created at its plant in Pontiac, Michigan, and plastic fan parts produced at its facilities in Hangzhou, China (Riordan Manufacturing, 2004).

The Company produces and provides the following products:

* Plastic Bottles

* Fans - All sizes

* Heart Valves

* Medical Stents

* Custom Plastic Parts

The Market

Presently, Riordan Manufacturing is producing plastic bottles, fans, heart valves. Raw material prices jumped significantly from 2004 to 2005 and without integration between the plants and corporate headquarters these trends were not seen as they were happening. Sales for 2005 grew by $4.8 million above 2004; however, the increase in raw materials left only $220,000 profit above the profit in 2004.

Risk/Opportunity

The greatest risk with the plastic injection business today is not improving the information systems capabilities to keep up with the company's competition. When the sales force encounters a customer wanting a large quantity of product, he or she cannot provide a quick answer that may result in loss of sales to a competitor that has that information readily available.

Management Team

The Riordan Manufacturing Board of Directors carries the responsibility of overall management of business affairs of the Company in accordance with state corporation requirements, the Articles of Incorporation, and its By-Laws. The encompassing role of the board is to govern and manage the affairs of the Company for the benefit of shareholders. The Board endeavors to faithfully fulfill its obligations through oversight of quality management personnel who carry out the daily activities on behalf of the Board of Directors of Riordan (Riordan Manufacturing, 2004).

Financial Snapshot

September 2005, Riordan Manufacturing had sales of $50,823,685, and net income of $1,956,371, compared to sales of $46,044,288 and net income of $1,990,495 in September 2004.

Year: 2004 2005

Sales: $46,044,288 $50,823,685

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