May 23, 2005

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Crain's Intemational Newspaper for the Plastics Industry

Domino Plastics opens new headquarters

Setauket, N.Y. - Plastic resin and scrap dealer Domino Plastics Co. Inc. had moved into a new, 6,000 square foot headquarters facility in Setauket.

Domino also has installed a new computer system with software, server and a dedicated T1 line for its www.domplas.com Web site. The technology is vital to the firm, which generates about half of its sales from online purchasing.

President Mike Domino said the site generates 10-12 "solid hits" per day and has won Domino business from Canada, Mexico, Asia and Europe. The firm also uses the Internet to make scrap purchases.

"Our sales reps used to fly across the country to inspect material."

Domino said in a news release. "Now we make split-second decisions based on viewing a digital photo and getting samples by over night courier."

In a recent telephone interview, Domino added that "in almost every case, the material is what people say it is" when sending digital photos.

"People have been incredibly accurate and reliable," he said.

Domino has seen a shifting attitude toward scrap material.

"In the last 10 years, companies have really started taking care of their scrap as prices have gone up." he said. "They see [scrap] as a revenue stream."

Domino Plastics now expects to trade 50 million pounds of scrap in 2005 while posting sales of about $17 million. If it hits those goals, Domino's scrap volume will have improved by 80 percent year-on-year, while sales would be up 70 percent.

The firm employs seven and operates additional sales offices in Shirley, N.Y., and Mount Laurel, N.J. By the end of the year, Domino Plastics expects to add one sales rep and a new purchasing employee.

Domino Plastics uses public warehousing and also contracts with grinding and baling companies on about 25 percent of its business. The firm's primary warehouse is in Cinnaminson, N.J.