Double-digit growth in 2012 sales helped land custom injection molder Anchor Plastics in the Minneapolis/St. Paul Business Journal's Fast 50, a list of the 50 fastest growing private companies in the Twin Cities. Sales growth of 83.01% in 2012 over 2011 placed Anchor at No. 34 on the list.
Founded by President and CEO Steve Rogers in 2007 after he purchased a manufacturing facility from his father, Ron Rogers, Anchor survived the economic downturn of 2008, and according to the Journal has grown steadily since 2009, with revenue climbing from $1.7 million in 2010 to $2.1 million in 2011. Rogers told the Journal he expects Anchor to near $3 million this year.
Rogers estimated that Anchor could double or triple in size over the next two years based on projects in its queue for 2013. To support the growth and allow more, the company said it has "taken steps to hire new employees", according to a press release, and it plans on hiring more as the year moves forward.
Anchor Plastics specializes in high precision injection molding serving markets that include but are not limited to automotive, aerospace, military, and medical.
Anchor Tool & Plastic Inc. was founded in 1968 by Ronald R. Rogers, the current president of the Nogales branch of the company.