FORTIS BEGINNINGS

 

Fortis Plastics was formed in late 2008 from the combination of Leggett & Platt Plastics Group and the Atlantis Plastics businesses by Monomoy Capital Partners LP. Both Leggett & Platt and Atlantis had a multitude of facilities throughout North America several of which have been servicing customers for several decades. Leggett & Platt had purchased a series of privately owned facilities over a decade long period and combined them into a corporate plastics division of which they grew and decided to divest along with their entire aluminum die cast division in 2008. Atlantis Plastics has been a key supplier to the appliance industry throughout its existence. Management and financial issues had led to the sale of this company in 2008 to Monomoy and Fortis was formed.

Fortis’ task was to restructure these two separate companies into one profitable entity. For this to happen Fortis’ management leaned strongly on the Lean Manufacturing Principles and the experience of the key management personnel. The difficult decision to combine facilities to maximize efficiency had to be made to allow Fortis Plastics to properly serve its customer base and grow the company to the expectations of the owners. Eliminating was (and still is) of the highest priority for Fortis. These efforts have resulted in improvements in all areas of manufacturing & quality and quickly resulted in the financial stability that is expected from key plastic suppliers in the industry.

Fortis quickly built on that financial stability with the purchase of a large injection molding facility from Moll Industries in Ramos, Mexico in earlier 2009. This expanded our footprint into a key location that many of our current customers and future targeted customers were located or moving into. In addition to that acquisition, Fortis also purchased a thermoplastic resin compounder, Global Thermoplastics shortly thereafter proceeding with the ultimate goal of being a true “Material Technology Company”. Again the top management applied their experience and Lean Manufacturing tools to these facilities to improve efficiencies and capabilities to the high standards required to be a Fortis company. Fortis continues to use its financial stability and limited debt to look for additional opportunities for mergers and acquisitions to improve our ability to grow with our current and future customer base.