2008 North American Hearing & Respiratory Protection Green Excellence Award Moldex-Metric Inc. The 2008 Frost & Sullivan Award for Green Excellence in the North American Hearing and Respiratory Protection market is presented to Moldex-Metric Inc. (Moldex). The award is presented in acknowledgment of its commitment to environmental sustainability, focus on launching environment-friendly respiratory protection and hearing protection product lines and is mutually beneficial to Moldex‟s business practices and to society as a whole. This award is in recognition of the company‟s proactive development of the first 100 percent P.V.C. (Polyvinyl Chloride) Free product line. Moldex‟s excellence in delivering environmental sustainability is also apparent in its motivation to develop novel „green‟ products and its ability to be a potential change agent within the hearing and respiratory protection industry. Moldex-Metric Inc. was founded in 1960 and entered the safety products market in 1980. Moldex is located in Los Angeles, California. The company focuses its core product and marketing skills on respiratory and hearing protection. It serves the Industrial, Healthcare, and Retail markets. Moldex-Metric Inc. has a commitment to offer both superior product design and continuous technological improvements in the manufacturing process so that the end-users are able to get quality products. Some of the quality assurance programs that approve Moldex‟s production processes include Underwriters Laboratories (UL) and IS0 9001. Moldex has manufacturing facilities in the United States and Europe, in addition to sales offices and warehouses in all major markets worldwide and a distribution network across more than fifty countries. Moldex is one of the most recognized and respected names in the hearing and respiratory protection market in regards to industrial worker safety. Comfort, quality and value are all synonymous with a Moldex product. The company has a strong history of perpetual innovation. Moldex has over 50 patents. In 1983 they developed and marketed the first NIOSH (National Institute for Occupational Safety and Health) approved disposable respirator with a non-collapsible outer mesh, contoured to fit the face without a metal noseband. In addition Moldex developed and marketed the first NIOSH approved single strap disposable respirator. They also developed and marketed the “PlugStation,” the first disposable foam earplug dispenser and the “HandyStrap” feature on disposable respirators, which easily allows wearers to hang/store the mask around the neck. Moldex M Series of Earmuffs were the first muffs to use overmolded materials to enhance not only appearance but help to block transmission of sound through the band. Chart 1.1 shows the factors impacting Moldex's green excellence in product innovation in 2008. Chart 1.1 Moldex-Metric Inc: Product Innovation Green Excellence (U.S.), 2008 Commitment Commitmentto to Environmental Environmental Responsibility Responsibility Responsive Responsiveto toEnd End User UserNeeds Needs Moldex-Metric Inc: Product Innovation Green Excellence Motivated Motivatedto to Develop Novel Develop Novel Green GreenProducts Products Mutually Mutually Beneficial Beneficialand and Sustainable SustainableBest Best Practices Practices Source: Frost & Sullivan Responsiveness to end-users needs Industry participants within the marketplace are increasingly becoming more aware of the importance of protecting the environment. Promoted by the Federal Government, many companies have already developed environmentally-safe and sustainable purchasing programs. As a company, Moldex has a very strong commitment to making its products environmentally-friendly. In addition, the company is able to effectively detect end-users needs and respond to them by launching environment-friendly products into the marketplace. Many companies are trying to eliminate P.V.C and other environmentally-unsafe products and prefer working only with companies that are making more environmentally-friendly materials. Moldex‟s new PVC Free initiative was launched in September, 2007 at the National Safety Congress. Being the first company to offer these types of products in the market, gives Moldex a critical competitive advantage. It helps the company build a strong brand image to consolidate its strong position within the hearing and respiratory protection market. Moldex-Metric Inc. was able to provide the marketplace with a high quality product and add value by eliminating P.V.C and making their products environmentallyfriendly. End-users prefer high-quality products at low prices and many companies offer these types of products. Moldex found the way to differentiate its hearing and respirator line from the other brands by removing the environmentally-unfriendly components. End-users can find in Moldex products a feature that they can not find in any other product: environmental responsibility. In a saturated market like the hearing and respiratory protection market, this type of innovation results in increased brand awareness for Moldex and benefits for end-users as well. Mutually Beneficial Protection of the Environment The 100 percent PVC-free product line was launched in September 2007. Moldex made the announcement at the National Safety Congress, which is the major trade show for the industry. Extremely positive responses were received from its main distributors. Granger, one of Moldex‟s most important distributors, is featuring more green products in its catalogue for the end-users. The competitive advantage created by environmentfriendly products is driven by end-users whereby major Fortune 500 companies demand the products they purchase be environment-friendly. These products promote Moldex as a very strong brand. Environment-friendly products benefit Moldex by increasing its sales and benefit the environment and society as a whole as well. Companies want environment-friendly products that offer high quality and are available at low prices. Environmental responsibility is becoming a very important aspect when companies have to decide on the suppliers they are going to buy from. Manufacturers who offer green products show their commitment to the environment and, therefore, the society as a whole. Part of Moldex-Metric Inc.‟s product strategy is increased environment sustainability. The new line of more environment-friendly products is expected to benefit the company‟s sales in the short term. Manufacturing these products does not generate extra costs for Moldex end-users. The motto “P.V.C free for free” will help Moldex settle into the marketplace and differentiate itself from other brands in a very positive way. Quality and Price Assurance Products from the new P.V.C free product line offer the same performance and quality as non-P.V.C free hearing and respirator products. Moldex was very careful in R&D (Research and Development) to come up with a product alternative that meets or exceeds the same comfort and performance levels as the other products. When Moldex launched its new product innovation, the company‟s motto was “PVC free for free”. Moldex did not charge anything extra for its new environment-friendly products despite the natural trend in the industry to substantially increase product prices for greener alternatives. Through this pricing strategy, Moldex expects to increase its business with companies who have environmentally-preferred purchase programs. Conclusion Through a commitment to quality and price assurance, high degree of end-user acceptance, and the continuous ability to satisfy new client needs in an increasingly diverse market place, and by launching an entire hearing and respirator line made of more environmentally-friendly products, Moldex effectively differentiates itself from other market participants through its proactive green initiative. Based on the above cumulative criteria, Moldex‟s new first 100 percent P.V.C. (Polyvinyl Chloride) Free product line is the deserving recipient of the 2008 Frost & Sullivan Award for Green Excellence in the North American Hearing and Respiratory protection market. Award Description The Frost & Sullivan Award for Green Excellence is presented to a company that has demonstrated unique product design and development initiatives, which is aligned with a sustainable and environmentally conscious objective within its industry sector. This Award signifies the company's identification of a unique and revolutionary solution with significant environmental benefits, while presenting tremendous market potential simultaneously. Moreover, the Award also signifies that the company's overall business strategy is sound and poised for success. Research Methodology Product innovation, focused on environmental priorities and long-term sustainability, is assessed regularly through continuous monitoring amongst market participants within specific industry sectors. Frost & Sullivan‟s analyst teams perform extensive interviews with companies within specific industries to evaluate their products, technologies and business strategies. In addition, research within that market space is performed to benchmark the Award recipient's product line against others. Also considered are elements such as strategic alliances, expected time to market, environmental soundness, long-term green strategies, and management advocacy behind the success of the product. Measurement Criteria Specific measurement criteria used to determine the final award recipient are as follows: Product Profile Product platform characterized by long-term sustainability Streamlined design that enhances product efficiency Adaptability and responsiveness environmental needs and priorities of the product to address changing Business Commitment Entrepreneurial dexterity in incorporating conservation into the business concept Development of product solutions to address concerns regarding climate change Industry‟s acknowledgement of the green initiative in question, by way of financial support, strategic support, and recognition as a pioneering venture Environmental Accountability Demonstration of obligatory responsibility in reducing environmental burden as part of the solution (e.g. cradle to grave solution) Inherent features that enhances adoption / participation rate Creation of collective accountability towards reducing the impact of climate change, dependency on finite resources and ecological footprint About Frost & Sullivan Green Excellence Awards Instituted as an integral part of the Environment & Building Technologies Practice of Frost & Sullivan, Green Excellence Awards are presented to companies that have excelled in green product and technology innovation, and service achievements. These Awards recognize groundbreaking ideation and innovation across a multitude of disciplines that originated from a firm sense of environmental responsibility. Recipient companies are committed to a continuous focus on reducing the dependency on finite resources, from concept to commercialization. Their efforts demonstrate a resolve to reduce the impact of climate change and overall ecological footprint. Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry. About Frost & Sullivan Frost & Sullivan, the Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents. For more information about Frost & Sullivan‟s Growth Partnerships, visit http://www.frost.com. www.awards.frost.com
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