Polycorp Ltd. has been nominated for the SME Excellence Award, to be presented on the evening of November 26 at the 2014 Ontario Business Achievement Awards. Make sure to get your seats today!
We interviewed Polycorp about their forward thinking business mindset and how it has propelled their success as an SME. Here’s what they had to say.
Q. Tell us about your company.
Polycorp Ltd. was established in 1996 when Peter Snucins purchased the intellectual property and assets of the obsolete B.F. Goodrich Engineering Products Canada, decertified the union, and moved select assets and a few personnel to a newly established state-of-the-art manufacturing facility in Elora, Ontario. Restarting a business that had been closed for over a year, establishing a new facility, and engaging a new workforce was challenging. However, Peter felt there was potential to create a world class company in three separate, distinct niches.
Now a global market leader in three distinct areas – mining, protective linings, and transportation - Polycorp designs and manufactures engineered elastomeric parts providing customers with high quality, cost effective engineered solutions to address corrosion, abrasion, impact, noise, and vibration problems.
Q. Why does Polycorp deserve to win an OBAA?
From a handful of employees in 1996, our company has grown to over 200 employees and agents serving customers worldwide. We’re the largest in each of our three chosen niches in North America, and we consistently perform well above industry standards.
In addition, we’re constantly engineering new designs, developing improved materials, and on the look out for new technologies. Emphasis on intellectual property development has resulted in 17 active patents and 17 patent applications pending, many of which have been filed in multiple jurisdictions. As a result, our company’s exports now represent 77 percent of total sales.
Q. What advice does Polycorp have for businesses looking to succeed in Ontario?
The world is your marketplace–and the world is also your competitor. Ontario has everything a business needs to succeed on the world platform. We have an educated workforce; all the necessary infrastructure; easy access to one of the world’s largest markets, the US; stability; coupled with the benefits of Canada’s very positive international reputation and perception.
Ontario represents a very good base, but the world should be perceived as our market. Healthy paranoia regarding competitive threats and shifting marketplace demands is critical. Complacency is deadly.
Q. In your experience, what are the key success factors for organizations in your industry?
While our industry is perceived to be staid, and not glamorous or dynamic–the opposite is actually true. Rubber products manufacturers now use state-of-the-art equipment, invest heavily in R&D, have expanded the definition of rubber to include very different types of polymers and composites, and are exploring the benefits of nanotechnology.
Constant innovation in materials and design are key factors for success in our industry.
Q. In five years from now, where does Polycorp envision to be?
In five years from now, Polycorp aims to be a sustainable, internationally recognized market leading company noted for its consistent quality, innovation and service. We also hope that our international initiatives that were started several years ago will have borne fruit in the markets we have targeted.
Q. How does the service or goods that Polycorp offers improve the everyday life of Ontarians?
Polycorp has created over 200 direct jobs, as well as significant corollary benefits for all of our stakeholders – whether suppliers, customers, or service providers. Our company represents one of the most significant employers in the Elora/Fergus area, and is a significant supporter of local community initiatives, as well as supporting broader based giving.
Join us in Toronto on the evening of November 26th as we shine the spotlight on 17 other extraordinary organizations and entrepreneurs that are redefining business excellence in Ontario. Get your seats at the 2014 Ontario Business Achievement Awards today!