Address: 9600 55th St., Kenosha, WI 53144
Website: www.xtenindustries.com
Year founded: 1940
Product or service offered: Proprietary ‘multifacturing,’ contract fabrication, plastic injection-molding, and logistics support services
Projected 2011 revenue: $20 million
CEO, President/Owner(s): Matthew Davidson, CEO; William Renick, president
Target clientele: North American companies looking to reduce the cost of producing and getting their products to market.
Business organization memberships: Kenosha Area Business Alliance, Prime Advantage, Society of Petroleum Engineers, MAPP, Kenosha Chamber of Commerce, IMDA
What has fueled your company’s growth?
Great attitude. Excellent production. Exceptional service, a combination that would fuel any company’s growth, generates a cadre of satisfied customers who spread the positive word about Xten.
What is the biggest obstacle to your company’s growth?
Access to reasonable financing. Injection molding, the primary component of our overall fabrication capability, is a capital intensive business. Accelerated expansion requires a magnitude of investment that cannot reasonably be funded by internally generated cash alone. Our revenues are up over last year, but continuing financial uncertainties are making it increasingly difficult to obtain the capital required to sustain our desired level of growth
Do you plan any changes in your company in the upcoming months?
We are expanding the efforts we started several years ago to reduce Xten’s environmental footprint.
What is the outlook for the business conditions of your industry over the next several months?
The brightest light we see on the horizon is customers and prospects bringing more and more work back to the U.S. that they previously had sent overseas. We feel this will result in slow, incremental growth for the injection molding industry. Our expansion into multifacturing is a strategic action to help us outpace industry growth.
What is your company’s key strategy for rising out of the recession?
Focus on growth within our identified niche of customers who appreciate the positive impact our multifacturing service can have on their profitability. We feel that niche is large enough to fuel our most optimistic growth objectives.
