Tipp City, Ohio (PRWEB) March 18, 2012
Process Equipment Company (PECo) is expanding its Gear Products Division as a part of its overall business plan growth for the 2012-2013 business years. With an estimated increase in sales this year of 25% and more than doubling sales for 2013, PECo is positioned to achieve all-time highs in sales and profits during 2013. “PECo is making significant investments in developing new products in this Division and will soon engage more broadly in the industry,” said PECo CEO, Bill Rosenberg. “Throughout the Company, we are in ‘growth mode’ and our gear & metrology business is an important part of our overall Plan.”
PECo achieved a very significant recapitalization during 2011, which added more than $3 million to stockholders' equity, leaving PECo without debt. 2011 audited financial statements indicate that last year’s sales were up 30.5%, headcount increased by 25% and profits more than tripled. PECo purchased two of its four facilities (one previously leased and one new) during 2011 for approximately $2 million, and increased its manufacturing square footage by 30%. “The bottom line is that PECo is stronger than ever,” said Rosenberg. “We are in the process of installing $2.5 million worth of new machines in our Fabrication and Machining Division and introducing three new products for our Gear Products Division. The future is very bright for PECo and we are excited by what is on the horizon.”
In the area of gear metrology, PECo continues to have the simplest, easiest to use, leading-edge software package that not only puts its CNC gear checkers a step above the rest, but has resulted in the best reliability in the industry. This proven product line will be enhanced this fall with the introduction of three new products at the IMTS show in Chicago. The Company is already in production of the new products and anticipates pre-orders for the products prior to the show.
Due to its increased capacity and product demand, the Company is actively hiring in several areas, including: Applications Engineers, Software Engineers / Programmers, CNC Boring Mill Machinists, Project Managers, Field Service Technicians, Controls Engineers and Maintenance personnel.
“You won’t want to miss this next level of innovation in our Gear Products Division,” Rosenberg exclaimed. “Be sure to check out upcoming issues of Gear Solutions and Gear Technology magazines for a sneak peek and plan to visit our booth at IMTS this fall, where we once again will make gear metrology the talk of the show.”
For information regarding this release, please contact Lori Spencer, Director of Marketing 937-667-4451.