Until our economy turns around, will you hunker down or invest in technology?
When the economy started to tank, Matt Hlavin, CEO of Thogus Products, a 61-year-old manufacturing company rooted in injection molding and heavily dependent on the automotive industry, chose not to await economic recovery, but to invest in Fused Deposition Modeling (FDM) technology and diversify. His decision has paid off in spades.
With FDM in place, Thogus shifted to small-volume molding and now competes with high-cost fabrication shops. Thogus quickly saw a return on their Fortus FDM machines by closing a $600,000 deal before their machines were even on the floor and rapidly put additional FDM technology, ABS materials and Stratasys equipment into place.
The proof’s in the numbers:
- Since 2008, Thogus has grown to 86 employees, 31 of whom were hired in 2010.
- 2010 revenue increased 76% over 2009
- In 2009, no engineers were on staff; in 2011 there are 15
- Thogus saves an average of $150,000 annually with FDM processes in place for factory automation, fixturing, advanced prototyping and pre-tooling product verification
“All manufacturers are looking for ways to move products to market faster and compress their production development cycles. One resource in this world you cannot purchase is time. Now, with FDM, we’re essentially able to sell time,” Matt Hlavin.
Read the full story of how 3D production systems helped spur growth for Thogus.