Jul 26 2010
Former Spartech Corporation executive Phillip Karig has launched a plastic resins procurement company focused on helping plastics processors cost-effectively navigate a rapidly evolving international plastics marketplace.
The company, Mathelin Bay Associates LLC, opens with offices in St. Louis, Missouri and Berlin, Germany.
“We recognize that the situation of every plastics processor is unique, so we do not present a ‘one size fits all’ resin buying solution,” said Karig, Mathelin managing director. “Our focus is to supply processors in North America and Europe with insightful and impartial market advice and alternatives – the essential information to make an informed purchase in the short term or to plan long-term procurement strategy.”
“Mathelin Bay is totally independent,” he continued. “We have no financial interest in or special arrangement with any resin supplier. We will also go the extra mile by, for example, sitting beside customers at the negotiating table, if so requested.”
“In recent years, the plastics market has experienced enormous change. Resin suppliers have gone bankrupt or been forced to consolidate. Price increases have become more frequent and larger, and are being implemented on shorter notice,” Karig added. “Collectively, these changes have reduced the purchasing leverage of plastics processors and severely pressured their profit margins.”
“Mathelin Bay aims to provide small to mid-size processors a level of procurement talent normally only available to larger firms,” said Karig. “All Mathelin Bay procurement professionals have at least 10 years senior level experience at plastics firms having annual turnover of $ 250 million to more than $ 1 billion.”
Karig has more than 20 years experience in the plastics industry, most recently as vice president and chief procurement officer for Spartech and has overseen annual procurement budgets of $750 million. He holds a master’s degree from Harvard University and a bachelor’s degree from the State University of New York.