Molded Pulp Technologies LLC (MPT) was founded by Jim Newman, Gordon Valko and Luke Whalen in the fall of 2017. MPT is incorporated as a Delaware LLC and is poised to become a leader in the manufacturing of sustainable packaging. MPT acquired the equipment of Hurley Packaging of Texas Inc. (Hurley) and also has access to its book of business.
Hurley was established by Tom Hurley and was a manufacturer of sustainable packaging for more than 20 years, successfully completing more than 10 million orders for small and large businesses in the United States and Mexico. These customers were nationally recognized egg producers. Mr. Hurley is now part of the leadership team at MPT as a Business Development Officer and is helping the Company reestablish business relationships with his prior customers.
Molded Pulp Technologies plans on being located just outside Louisville, Kentucky occupying a portion of a facility well suited to its needs. MPT will begin manufacturing in the fourth quarter of 2018, as time is needed to transport and refurbish equipment. Its customers will include egg producers and others in the food and beverage industry.
Molded Pulp Technologies will account for the recovery, recycling and elimination of approximately 22 million pounds of paper materials per annum that would have otherwise been placed into the solid waste stream. As a pioneer in the clean, natural manufacturing of sustainable packaging, MPT vows to continue to innovate processes, eliminate waste, increase efficiency and make ‘going green’ more affordable.
Molded Pulp Technologies’ molded pulp products deliver many competitive advantages over the competition:
- Manufacturing Quality: Manufacturing quality is a major competitive advantage of MPT. MPT will achieve ISO 9001:2008 certification for its quality management system. MPT management strongly believes in maintaining the highest possible quality protocols as well as adhering to a continuous quality improvement policy.
- Kentucky Location: Being located in the central state of Kentucky will increase sales by decreasing shipping costs for customers.
- Emery E54 Rotary Pulp Molding Machine: MPT has one of only six E54 machines in the United States, and given a suitable market, such as egg flats and cartons, the E54 can return high net revenue because of low per unit production costs. With an E54 running at full capacity for the maximum period in a year, the production capacity for egg flats is approximately 140 million. Emery rotary machines are designed to conserve water and energy. The closed loop system means that there is no liquid effluent except in an emergency.
Emery E54 Rotary Pulp Machine
Molded Pulp Technologies’ products deliver benefits and value including:
- MPT products are manufactured to the highest quality standard.
- MPT manufacturing efficiencies guarantee Just-in-Time delivery.
- MPT enjoys offering its customers competitive pricing while upholding the highest quality standard.
- MPT is positioned in a valuable geographic region that can easily service large egg producers.
Molded Pulp Technologies building at LLC North facility just outside Louisville, Kentucky
LEADERSHIP TEAM & BOARD OF DIRECTORS
As the former president of Loeb, Mr. Newman continues to lead the efforts of Loeb’s financial affiliates as a Principal of Loeb Term Solutions. Having led the five-generation company for over 40 years, he is proud to have been the fourth generation in the family business. Mr. Newman holds a BA in Industrial Management and Mechanical Engineering from Purdue University and has previously held professional certifications from the Association of Machinery and Equipment Appraisers (AMEA), the American Society of Appraisers (ASA), and the Equipment Appraisers Association of North America (EAANA). He has served on the board and held several officers positions with the Machinery Dealers National Association (MDNA), AMEA and EAANA. Mr. Newman is recognized for his expertise, honesty, integrity and leadership by all who have had the pleasure of doing business with him.
As the Managing Director at Warburg-Stuart, Mr. Valko has arranged financing for corporations for over 30 years and has an extensive background in turnaround management, restructurings, acquisitions and divestitures. One of Mr. Valko’s major career successes was the restructuring and turnaround of Uniroyal Tire Ltd., a $300 million developer of plastic and rubber products. He has previously served in several senior advisory positions with Coopers & Lybrand and has held senior financial positions with the Oshawa Food Group. Mr. Valko has advised corporations in the high tech electronics industry, founded two healthcare companies, and continues to serve as a Director at a number of private and publicly traded corporations in Canada.
As the former President and Chief Executive Officer at Scorpion Performance, Inc., and Chief Executive Officer at Biologic Therapies, Mr. Whalen was responsible for leading the day-to-day operations of the Companies as well as managing the strategic development and execution of the companies’ corporate and product plans. Mr. Whalen brings a wealth of experience in product design, manufacturing, robotic automation, supply chain, sales, and personnel management expertise to leadership teams. He also oversees product development and quality control activities.
Mr. Gross formally joined MPT in August of 2018, though he assisted in the formation of the Company for the three months prior to his appointment.
Mr. Gross founded and was Chairman, CEO and President of US Home Systems (NASDAQ: USHS) from its inception in 1997 through 2012. US Home Systems grew to $180 million in sales and was then acquired by The Home Depot (NYSE: HD) in October 2012 for nearly $100 million.
Prior to founding USHS, Mr. Gross was the President and COO of Facelifters Home Systems from 1987 to 1996 when it was acquired by AMRE (NYSE: AMM) for $44 million.
Mr. Gross began his entrepreneurial pursuits when he co-founded Pennsylvania-based Busy Beavers Remodelers. This company was sold to its partner, Busy Beaver Home Centers, and both companies were acquired in 1972 by Cyclops Corporation, which was then number 240 on the Fortune 500 list. Mr. Gross remained with the Company until 1981.