Climax Portable Machine Tools Named to Inc.'s 2008 List
Newberg, Ore. - September 3, 2008 - Inc. magazine, a leading business publication targeted to small-to-midsize fast-growing companies, ranked Climax Portable Machine Tools on its annual ranking of the 5000 fastest-growing private companies in America. The list is a comprehensive look at the most important segment of the economy - America's independent and most innovative companies.
Climax Portable Machine Tools is a leading global manufacturer and provider of on-site machine tools and engineering services. Based in Newberg, with a European Headquarters in Germany, Climax's innovative approach to on-site machining is revolutionizing the way equipment is repaired and maintained throughout the power generation, shipbuilding, heavy construction and mining, and service and engineering sectors. The company was chosen for the Inc. list because of its 74.2 percent growth rate based on performance during 2004-2007. It also ranked among the 403 privately-held manufacturers in the nation to grow in an industry that has seen a steady decline over the years.
"Making the 2008 Inc. 5000 list not only validates Climax's position as an innovative manufacturing company, but also underscores the importance of the small- and mid-size companies' role in the growth of the American economy," said Geoff Gilmore, president and CEO of Climax Portable Machine Tools. "We are very proud to be included on this list and thank our dedicated employees for their diligence and hard work."
More than 40 years ago, Climax pioneered the concept of bringing portable machine tools to the job site to help customers reduce downtime, streamline their processes, optimize their workforce and maintain a competitive edge. This paradigm shift to on-site repair has been gaining momentum worldwide as companies come to realize that it is a much more efficient and cost-effective method for maintaining and repairing equipment.
In 2003, Climax made a strategic decision to focus its energies on expanding its innovative machining solutions and services to meet the needs of the rapidly growing energy sector and shipbuilding industry. By creating strategic business units that marketed directly to these industries, continually improving its precision machine tools and expanding its consulting and training services, the company became a more nimble organization, able to react more quickly to meet customers' growing needs.
These efforts have resulted in significant growth due to global demand for its products and services. To continue to serve its growing customer base, Climax has opened a European headquarters in Düren, Germany, established new sales and distribution centers worldwide, expanded its facilities to double its manufacturing processes and created new jobs. Climax is recognized worldwide as an invaluable partner in helping companies be more productive and compete more effectively. In addition, Climax works closely with other manufacturers, schools and organizations to promote careers in manufacturing.
Complete results of the Inc. 5000, including company profiles and a list of the fastest-growing companies can be found at www.inc5000.com.
About Climax Portable Machine Tools, Inc.
Based in Oregon and Germany, Climax Portable Machine Tools, Inc. is a strategic world-class provider of comprehensive, on-site machining solutions. The company offers specialized engineering consulting services, customized training programs and a full line of portable machine tools for sale and rent, enabling customers to efficiently perform on-site machining for applications in the shipbuilding, power generation, heavy construction and mining, as well as service and engineering sectors. Climax Portable Machine Tools pioneered the portable machine tools concept over 40 years ago, and as the world's largest supplier of portable machine tools, offers standard and custom-built solutions. Climax serves domestic and international markets through its own international offices and licensed representatives in 26 countries. More information about the company is available at www.cpmt.com
