Phillip Karig, a former executive with the plastics company Spartech, has launched a plastic resins procurement company called Mathelin Bay Associates LLC. In an announcement on the opening, the company says that its goal is to assist small and mid-sized plastics processors in finding plastic resin for their needs.

The company opens with offices in St. Louis, Mo., 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," Karig says, Mathelin’s 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."

"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," he adds. "Collectively, these changes have reduced the purchasing leverage of plastics processors and severely pressured their profit margins."

"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."