Alloy Engineering Celebrates 65th Anniversary and Exceptional Growth
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Alloy Engineering Co., The
844 Thacker St., Dept. 10
Berea, OH, 44017
Press release date: April 8, 2008
BEREA, OHIO, April 8, 2008 - As The Alloy Engineering Co. celebrates its 65th anniversary, the company is experiencing unprecedented growth - an average sales increase of 25 percent per year for the past three years with projected sales in 2008 of more than double 2004 sales. The company has prospered in an industry populated with competitors struggling to survive.
Alloy Engineering specializes in the design and manufacture of high-temperature, corrosion-resistant alloy metal products. The company distinguishes itself from competitors, both domestically and internationally, because of its design engineering focus and alloy materials selection and fabrication expertise.
"After successfully serving traditional markets over the years, in the 1999/2002 timeframe management decided to focus the company's core capabilities on emerging markets that promise long-term growth," explained Rick Turiczek, vice president and general manager at Alloy Engineering. "Although we were serving these markets in a limited way, additional opportunities were identified that offered greater potential.
"To take advantage of these newer opportunities, Alloy Engineering has adopted lean business and manufacturing practices. Also, we have reinvented ourselves from a sales and marketing standpoint while focusing our core competencies of high-temperature engineering and fabrication know-how on more ambitious applications."
In 1974 Alloy Engineering became the first business in Ohio and the third in the country to adopt an Employee Stock Ownership/Option Plan (ESOP). "This program of extending ownership to all employees, involving them in managing the business and tying compensation to profits was a key turning point," said Lou Petonovich, Alloy Engineering president and CEO and chief architect of the plan.
"Our corporate culture has always been one of empowering employees to be active participants in our company's efforts to provide customers with the best alloy products and the highest level of engineering and fabrication expertise. Alloy Engineering belongs to all of us and each of us has a direct impact in making the company successful," said Petonovich.
Alloy Engineering is realizing its goal of becoming a preferred global supplier to expanding markets both domestically and internationally. For example, the company has experienced exceptional international growth in supplying products for the power-generation, petrochemical and agricultural industries - fundamental industries that are necessary to serve expanding populations with rising standards of living and growing industrial infrastructures.
About Alloy Engineering: Since 1943, The Alloy Engineering Company has pioneered the design and manufacture of a wide range of alloy products for high-temperature furnace and corrosive applications throughout the automotive, aerospace, petrochemical, pulp & paper, power-generation, primary metals and general manufacturing industries.
Patt Cretu-Ball Sales & Marketing Manager The Alloy Engineering Company 440.243.6800 Fax: 440.243.6489 firstname.lastname@example.org
Jim Benes Benes Marketing Communications 440.944.5826 Fax: 440.944.7674 email@example.com