MTD finds success through specialization
MTD Micro Molding grew its revenue by 20 percent over its previous fiscal year because some long-term projects are starting to come into fruition.
While other manufacturing companies make products for several different industries, MTD Micro Molding prides itself on its sharp focus on micro-molded products for medical original equipment manufacturers.
MTD was founded in 1972 as Miniature Tool & Die, Inc. by Richard Tully, originally as a manufacturer of miniature connector injection molds for the electronics industry. The company has since transitioned to medical, giving it an intimate knowledge of its clients' needs.
“We have a unique focus on what's important to the customers,” said President Dennis Tully, who assumed leadership of MTD from his father in 2008. “We understand what they're going to be up against. It isn't difficult to understand their needs when it's one industry.”
Revenue, production growth
Today, the company employs 32 people at its Charlton plant, which it is in the process of expanding. Exact plans are still being finalized, but the plant will get somewhere between 12,000 and 16,000 extra square feet.
Pushing forth the expansion is the fact that MTD has managed to achieve 20-percent revenue growth over its previous fiscal year because some long-term projects are starting to pay off.
“From the time we get involved with an idea to when the payoff is, it takes about three years. Keeping as many products in active status means we're constantly taking on new things,” Tully said. “We've been doing a very good job about that over the last five to six years, and we're starting to see the payoff five or six years later.”
The growth also came as the company has expanded its reach. MTD engaged with a sales firm in California that has been marketing the Charlton company on the West Coast since June of last year. MTD also has a Southeast sales representative in Florida.
Leo Casey, who provides financial services to MTD through his company, B2B CFO, said he expects the company to grow between 15 and 20 percent each year for the foreseeable future.
“They have a very loyal employee base, they take care of their people, and buy state of art technology – they've been successful,” said Casey.
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