2019 PBN Fastest Growing Companies: $75M and above
5. igus Inc.
CEO (or equivalent): Rick Abbate, president, North America
2018 Revenue: $133,739,076
2016 Revenue: $106,127,373
Revenue growth: 26%
IGUS INC. HAS more than earned the right to brag about being one of the fastest-growing manufacturing companies in Rhode Island.
The manufacturer of engineered plastics for more than 50 years has seen its sales rise by $14.3 million between 2017 and 2018 and by $27.6 million since 2016.
Its business is centered around four main product lines for a variety of industries that focus on the idea of “motion plastics,” including its trademarked iglide self-lubricating bearings and DryLin linear bearings and guides.
Igus spokesperson Kayla Abbate said it is the DryLin product line that has expanded the most in recent years because of its unique fit in the industries it serves.
But the greater credit for the company’s growth goes to the efforts of its workforce, she said. “In the last five years we have added two levels to our outside sales force to make sure while we are growing, we are adding support for everyone as well,” she said. “Each year we add 10-15 new outside salespeople with the hopes that they will go out and discover new business and new markets while keeping our existing customers happy.”
