HOUSTON—Plaza Group Inc., the North American distributor for Versalis elastomers, is celebrating its 20th anniversary with a commitment to reach $1 billion in revenue by 2020.
“Well, obviously, we won't get (to that revenue goal) through the organic growth method,” said Chief Operating Officer Doug Fluke. “We will take on new lines, and we're in the process of taking on a significant number of new product lines to sell. We're taking on new geographic responsibilities, so we're broadening our geographic marketing area.”
Fluke said an announcement will come soon, detailing new product lines and alliances. The firm said its revenues in 2013 exceeded $300 million.
Sales Director Steve Willett credited two items for the Plaza Group's success: its outsourcing business model and its core values. “It's the acceptance within the petrochemical and polymers industry of our outsourcing business model,” he said.
He said companies have realized that while they may have resources to service most of their customers, there might be a portion of customers they may not be able to service for various reasons.
For example, Willett said a motor gasoline refinery might make the gas, heating oil, etc., but the Plaza Group “can take that to the chemical market for them.”
“The business model we employ ... we're not a distributor, per se, and we're not a manufacturer,” Fluke said, “but there are many companies that are in the manufacturing business that choose to employ their resources in areas of their core strength.”