Triad Plastic Technologies, located in Reno's South Meadows Business Park, is an example of a company thriving in a time of economic doldrums.
"We had a 13 percent increase in our business last year in the face of a dismal economy," said Greg Latimer, the company's founder and president.
"And it appears we're heading toward another record year."
He cited solid business practices as well as commitment to the firm's customers and employees as reasons for Triad's success.
Latimer started out as a tool-and-die maker in Southern California and didn't plan on becoming a business owner.
After he and his wife Nancy were married at Lake Tahoe they moved to Incline Village.
While working for Hamilton Tool and Die in Reno, he was introduced to injection molding.
This process uses a machine that heats plastic pellets to a molten state.
Then, using a hydraulic ram producing up to 20,000 pounds per square inch, the plastic is forced into a precision-built mold.
After going to work for another company, Latimer began a side business producing press-on fingernails.
Then in 1988 everything changed.
"The company I worked for seemed to be dying and my biggest nail customer wanted to buy that business," he said, "since they accounted for 65 percent of the volume of what could I do."
The nail company was sold, he left his employer and both Latimers started Triad.
"We used the money from the sale and paid cash for everything.
Since then we have slowly built the business and stayed debt free.
"I often asked myself what a pearl of wisdom God gave us.
Being debtfree meant when business was slow I didn't have to worry about laying people off."
One lesson the nail business provided was not being dependent on a major customer.To expand his customer base Latimer needed a competitive edge.
"We had to separate ourselves from other molders so we moved to a total fulfillment service concept," he said.
Triad became a one-stop provider doing everything from design, production and assembly, stamping logos on a product, packaging, shipping and supplying logistical support.
A good example is the "Drink Well Pet Fountain," found in many area pet stores.Triad does everything from the initial molding all the way to shipping the packaged product to retail outlets.
"And, we do this all without additional charges," he said.
"We're a custom molder and provide a place where the customer never has to leave.
It seems to really work as we don't want to do one element of a project then ship it elsewhere for completion."
Another product is found on IGT slot machines.
A player slips a dollar into the bill receiver that includes a plastic part built by Triad.
While its prime market is household goods,Triad also makes the "Wrist Ripper," a device that helps strengthen forearms and a respirator-resuscitator used in the medical field to aid a patient's breathing.
"We can do anything as long as it is legal and tasteful," Latimer said.
He paused, laughed and added, "We've gotten those that aren't and turned them down."
Staying at the cutting edge of the industry is an ongoing effort.To do this Latimer has a program to replace the plant's machinery every three years, and the company embraces the latest in technology.
High-tech engineering and tooling departments support Triad's "rapid prototype" program.
This is where a customer either supplies the exact measurements or a
sample, which is scanned, and the staff fabricates an exact mold in a minimum amount of time.
Latimer also works hard at inspiring loyalty among his 35 employees.
"I feel we have a moral obligation to those who have entrusted us with their employ," he said.
"We offer liberal benefits, including medical and vacation.
If we are successful, they made us successful and should share in the fruits of that." Some staff members have been with Triad since its founding and others are sure to follow as the company is expanding.
"We're looking right now for additional people," he said.
Latimer said many of the business principles he uses came from the Fellowship of Companies for Christian Interaction.
He added that anyone can use these principles.
"They teach us to be leaders and that business is not just a money mill but can be a platform to help people," he said.
"We not only can do things right but we can do the right things."
Looking toward the future Latimer recently had the company ISO-9000 certified.
This means Triad now uses an internationally recognized quality control system.
"We're trying to stay on the edge of technology and be sure we can compete in the global market place," he said.
Currently his 40,000-square-foot plant needs to be expanded to keep up with the volume of business.
"We're planning to add an additional 35,000 square feet of to further expand our assembly area," he said.
"This will help our value added operation."
While others complain about the economy, Greg and Nancy Latimer know that sound principles and practices will keep their company on the road to further success.
