New Venture Lab 2013
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The document discusses Skolnik, a company that manufactures industrial packaging drums. It provides an overview of the company and the industrial packaging industry. Skolnik offers over 150 UN certifications and customized drum solutions. They are a world leader in salvage drums and focus on compliance. Their drum types include carbon steel, stainless steel, and a new seamless stainless steel drum. The presentation discusses expanding into higher margin stainless steel and seamless steel drums that are used in pharmaceutical, specialty chemicals, food processing, and personal care industries. It provides objectives for a class project to investigate the stainless steel and seamless steel drum market opportunities and recommend go-to-market strategies for Skolnik.
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New Venture Lab 2013
- 1. Howard Skolnik Brian Hand Dean Ricker New Venture LabNew Venture Lab October 2nd, 2013October 2nd, 2013
- 2. Agenda • Company Overview & Brief History • Dynamics of Industrial Packaging • Why Skolnik? • Our Products and Customers • New Product Discussion
- 8. Why Skolnik? • Offer more than 150 UN Certifications • In house UN testing • Expert QA and Engineering staff • Customized Solutions • Multiple drum types and sizes • World leader in Salvage Drums • Compliance (closure instructions)
- 9. Carbon Steel Drums • Capacity: 5 to 110 gallons • UN Rated • MARKETS: – Chemicals – Paints and Powders – Food and Beverage – Dangerous Goods
- 10. Salvage Drums • 5 to 110 Gallons • UN Rated • Markets: – Haz Mat Response – Environmental Cleanups – Freight/Logistics over- packing
- 11. Stainless Steel Drums • 5 to 55 Gallons • UN Rated • Markets: – Chemical – Pharmaceutical – Food and Beverage – High Purity and Compatibility Requirements
- 12. NEW: Seamless Stainless Steel • Size: 55 Gallon • UN Rated • Seamless “Crevice Free” Interior • Applications: – High Purity Products (no contamination) – Nitric Acid
- 13. New Product Discussion • Current Revenue Breakdown – Carbon Steel 85% $25-$150 per drum – Stainless 15% $250-600 • Seamless 2-4% $800-2000 • Current Revenue - Heavy reliance on catalogers, DOE, DOD • Desire to expand market opportunities – Focus on higher margin products • Stainless, seamless drums are highest margin
- 14. Stainless, Seamless Drums • Stainless – Non-reactive with most chemicals • Seamless – No crevices for bacteria to hide – Can be cleaned and reused
- 15. Stainless, Seamless Market • Pharmaceutical • Specialty chemicals – Acids for semiconductor manufacturing • Food processing • Personal care – Lotions, deodorants
- 16. Class Project Objectives • Investigate Stainless, Seamless market – Identify largest market sectors – Identify sectors that are not adequately served • Determine best match for Skolnik’s capabilities • Evaluate pricing structures • Recommend go-to-market strategies • Have fun!