NEO Ernst & Young Entrepreneur of the Year
Family Business Award
president and CEO
Over the past 20 years, the second-generation of the Balogh family, Scott and Steven Balogh, have transformed Mar-Bal, Inc., a compounder and molder of thermosetting materials, through customer collaboration, engineering design and investments in innovation. MBI engineers and manufactures quality, customized materials and parts to serve the appliance, electrical, transportation and industrial marketplaces.
Since Scott, president and CEO, and Steven, vice president, became involved with the business, the company has more than doubled its sales. The two have changed the culture at MBI by recruiting leaders in the plastics industry and implementing a focus on innovative processes.
One occasion of driving innovation was when a competitor with different polymers designed the company out of a Whirlpool product. Rather than placing focus on driving sales with its current polymers, the company concentrated efforts on identifying why it had been replaced. It identified that its polymers were no longer meeting customer’s requirements.
Typically, material is limited to colors such as white, bisque, black, red and orange. However, the market was demanding a metallic look. So, Scott and Steven, with the help of their engineering team, found a way to coat parts with actual metal vapors, a process they call Thermital. This allowed MBI’s product to have the appearance and feel of metal. Now the colors and finishes are endless and range from stainless and copper to candy apple red and royal metallic blue.
Today, the company’s innovation has attracted companies such as Whirlpool and General Electric, and has lowered cost for its customers and allowed it to gain an advantage over its competitors. Looking to the future, the Baloghs are pursuing the kitchen and bath market with the anticipation of developing a thermoset material that has the appearance of granite and Corian, which can be molded into sink basins and marketed as a lightweight alternative to the traditional porcelain sink.
How to reach: Mar-Bal, Inc., www.mar-bal.com