![]() | This article contains content that is written like an advertisement .(December 2021) |
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Company type | Public |
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Nasdaq: UFPT Russell 2000 Component S&P 600 Component | |
Industry | Health Care Products Manufacturing |
Founded | 1963 |
Headquarters | , |
Key people | R. Jeffrey Bailly (Chairman, CEO, and President) Ronald J. Lataille (SVP, Treasurer and CFO) Christopher P. Litterio, Esq. (General Counsel and SVP, Human Resources) Mitchell C. Rock (President, MedTech) Steve Cardin (VP, COO, MedTech) Jason Holt (VP and General Manager, Advanced Components) [1] |
Products | Custom Medical Devices, Sub assemblies, Components and Packaging |
Revenue | $353.8 MM (2022) [2] |
Number of employees | 2,665(2022) [2] |
UFP Technologies, Inc., founded in 1963 and based in Newburyport, Massachusetts, is a designer and custom manufacturer of medical devices, sterile packaging, and other products. [3]
UFP Technologies manufactures its products by converting raw materials using laminating, molding, radio frequency and impulse welding and fabricating manufacturing techniques. The company's single-use and single-patient devices and components are used in a wide range of medical devices and packaging for minimally invasive surgery, infection prevention, wound care, wearables, orthopedic soft goods, and orthopedic implants.
UFP Technologies, however, is diversified in also providing highly engineered products and components to customers in the aerospace, defense, automotive, consumer, electronics, and industrial markets. Typical applications include military uniform and gear components, automotive interior trim, athletic padding, environmentally friendly protective packaging, air filtration, abrasive nail files, and protective cases and inserts utilizing a variety of materials such as foam (cross-linked polyethylene, reticulated, melamine, specialty foam), woven and non-woven fabric, plastics (rigid, rubber, corrugated), natural fibers, films and adhesives. [4]
The Company has also developed a line of standard products that are trademarked and branded, including:
UFP Technologies, formerly known as United Packaging Corporation, was founded in 1963 by William H. Shaw, Robert W. Drew, and Richard L. Bailly in Woburn, MA. Within one year the company expanded operations and moved its factory headquarters to Georgetown, MA. In 1967, the company changed its name to United Foam Plastics Corporation to reflect a broader market capability. On December 17,1993 the company completed its initial public offering and formally changed its name to UFP Technologies, Inc. [10] [11]
In 2023, UFP Technologies was added to the S&P SmallCap 600 index. [12]
In 1993, the Company acquired Moulded Fibre Technologies, which focused on recycling old newspapers into molded fiber packaging for light industrial goods, electronics, and health and beauty products. [13] [14]
On February 4, 1997, UFP Technologies acquired the assets of FCE Industries Inc., formerly known as Foam Cutting Engineers, a supplier of foam plastics for industrial and consumer applications. [15]
UFP Technologies acquired Pacific Foam Inc., a producer of specialty foam products for the health and beauty industry, in December 1998. [16]
In 2000, UFP Technologies acquired Simco Industries Inc., a full-service supplier of automotive trim components. [17]
UFP Technologies acquired three companies in 2009: Advanced Materials Group, a foam fabricator based in Rancho Dominguez, California, [18] Foamade Industries Inc., a manufacturer of foam products and industrial machinery [19] and E.N. Murray, a designer, converter, and distributor of foam plastic products, specializing in technical polyurethane foams. [20]
In January 2013, UFP Technologies acquired Packaging Alternatives Corporation, a full service designer, converter, and distributor of foam plastic products, specializing in technical polyurethane foams principally for the medical market. [21]
On February 2, 2018, UFP Technologies announced the acquisition of Dielectrics, Inc. based in Chicopee, MA, a designer, developer, and manufacturer of medical devices using thermoplastic materials as well as the innovator of the Reebok Pump introduced in 1989. [22] [23]
On October 13, 2021, UFP Technologies acquired Contech Medical. Founded in 1987 and headquartered in Providence, Rhode Island, with partner manufacturing in Costa Rica, Contech Medical is a global leader in the design, development, and manufacture of class III medical device packaging primarily for catheters and guidewires. [24]
On December 23, 2021, UFP Technologies acquired DAS Medical. Founded in 2010 and headquartered in Kennesaw, Georgia, with manufacturing in the Dominican Republic, DAS is a medical device contract manufacturer specializing in the design, development and production of single-use surgical equipment covers, robotic draping systems and fluid control pouches. [25]
On March 17, 2022, UFP Technologies acquired Advant Medical. Founded in 1993 and headquartered in Galway, Ireland, with operations in Costa Rica and partner manufacturing in Mexico, Advant Medical is a developer and manufacturer of Class I, II, and III medical devices and packaging. [26]
On July 7, 2022, UFP Technologies announced the sale of its Molded Fiber business to CKF, Inc. [27]
In September 2013, UFP Technologies spent approximately $550,000 to build its sixth clean room, aiming to expand further into the medical device field. [28] [29]
In August 2014, UFP Technologies expanded its Georgetown, MA, operation with the addition of a clean room and high-volume equipment to support the production of components made from medical grade thermoplastic polyurethane. [30]
UFP Technologies expanded its North American operations for molded fiber packaging with a new location in El Paso, Texas, in November 2014. [31]
In 2016, UFP Technologies relocated its corporate headquarters from Georgetown, MA, to Newburyport, MA. [32]
On June 28, 2022, UFP Technologies opened a new medical manufacturing operation in Tijuana, Mexico. The 84,000-square-foot, FDA-registered facility features a cleanroom and clean space medical device manufacturing and assembly. [33]
Polyurethane refers to a class of polymers composed of organic units joined by carbamate (urethane) links. In contrast to other common polymers such as polyethylene and polystyrene, polyurethane is produced from a wide range of starting materials. This chemical variety produces polyurethanes with different chemical structures leading to many different applications. These include rigid and flexible foams, and coatings, adhesives, electrical potting compounds, and fibers such as spandex and polyurethane laminate (PUL). Foams are the largest application accounting for 67% of all polyurethane produced in 2016.
A thermoplastic, or thermosoftening plastic, is any plastic polymer material that becomes pliable or moldable at a certain elevated temperature and solidifies upon cooling.
Acrylonitrile butadiene styrene (ABS) (chemical formula (C8H8)x·(C4H6)y·(C3H3N)z ) is a common thermoplastic polymer. Its glass transition temperature is approximately 105 °C (221 °F). ABS is amorphous and therefore has no true melting point.
In materials science, a thermosetting polymer, often called a thermoset, is a polymer that is obtained by irreversibly hardening ("curing") a soft solid or viscous liquid prepolymer (resin). Curing is induced by heat or suitable radiation and may be promoted by high pressure or mixing with a catalyst. Heat is not necessarily applied externally, and is often generated by the reaction of the resin with a curing agent. Curing results in chemical reactions that create extensive cross-linking between polymer chains to produce an infusible and insoluble polymer network.
Lamination is the technique/process of manufacturing a material in multiple layers, so that the composite material achieves improved strength, stability, sound insulation, appearance, or other properties from the use of the differing materials, such as plastic. A laminate is a permanently assembled object created using heat, pressure, welding, or adhesives. Various coating machines, machine presses and calendering equipment are used.
A structural insulated panel, or structural insulating panel, (SIP), is a form of sandwich panel used in the construction industry.
Ultrasonic welding is an industrial process whereby high-frequency ultrasonic acoustic vibrations are locally applied to work pieces being held together under pressure to create a solid-state weld. It is commonly used for plastics and metals, and especially for joining dissimilar materials. In ultrasonic welding, there are no connective bolts, nails, soldering materials, or adhesives necessary to bind the materials together. When used to join metals, the temperature stays well below the melting point of the involved materials, preventing any unwanted properties which may arise from high temperature exposure of the metal.
The Society of Plastics Engineers (SPE) is a global professional membership organization dedicated to the advancement of knowledge and education for professionals employed in the plastics industry.
Royalex was a composite material, comprising an outer layer of vinyl and hard acrylonitrile butadiene styrene plastic (ABS) and an inner layer of ABS foam. The layers are bonded by heat treatment. It was used to manufacture durable, mid-priced canoes. Its supplier closed out production of the material in 2014.
PactivEvergeen Inc., is a manufacturer and distributor of food packaging and foodservice products, supplying packers, processors, supermarkets, restaurants, institutions and foodservice outlets across North America.
Sheller-Globe Corporation was a U.S. auto parts manufacturer and industrial conglomerate based in Toledo, Ohio. Formed in 1966 on a heritage of much older companies, Sheller-Globe grew through the acquisition of many other businesses before it was acquired by United Technologies Corporation in 1989.
Reaction injection molding (RIM) is similar to injection molding except thermosetting polymers are used, which requires a curing reaction to occur within the mold.
The plastics industry manufactures polymer materials—commonly called plastics—and offers services in plastics important to a range of industries, including packaging, building and construction, electronics, aerospace, manufacturing and transportation.
Polymer engineering is generally an engineering field that designs, analyses, and modifies polymer materials. Polymer engineering covers aspects of the petrochemical industry, polymerization, structure and characterization of polymers, properties of polymers, compounding and processing of polymers and description of major polymers, structure property relations and applications.
Electron-beam processing or electron irradiation (EBI) is a process that involves using electrons, usually of high energy, to treat an object for a variety of purposes. This may take place under elevated temperatures and nitrogen atmosphere. Possible uses for electron irradiation include sterilization, alteration of gemstone colors, and cross-linking of polymers.
Graco is an American industrial company specializing in the development and manufacturing of fluid-handling systems and products. The company is headquartered in Minneapolis, Minnesota and markets its products to customers worldwide.
Plastics are a wide range of synthetic or semi-synthetic materials that use polymers as a main ingredient. Their plasticity makes it possible for plastics to be moulded, extruded or pressed into solid objects of various shapes. This adaptability, plus a wide range of other properties, such as being lightweight, durable, flexible, and inexpensive to produce, has led to its widespread use. Plastics typically are made through human industrial systems. Most modern plastics are derived from fossil fuel-based chemicals like natural gas or petroleum; however, recent industrial methods use variants made from renewable materials, such as corn or cotton derivatives.
Solid Concepts, Inc. is a custom manufacturing company engaged in engineering, manufacturing, production, and prototyping. The company is headquartered in Valencia, California, in the Los Angeles County area, with six other facilities located around the United States. Solid Concepts is an additive manufacturing service provider as well as a major manufacturer of business products, aerospace, unmanned systems, medical equipment and devices, foundry cast patterns, industrial equipment and design, and transportation parts.
The Ensinger Group is a manufacturer engaged in the development and manufacture of compounds, semi-finished products, technical parts, composite materials and profiles made of engineering and high-performance plastics. The family-owned enterprise is represented in major industrial regions with manufacturing facilities or sales offices. The main office is located in Nufringen/Baden-Württemberg, Germany.