High Quality Precision Spring Manufacturer
Key product types are compression, extension, torsion, wireform, and specialty springs. The subsidiary provides metal finishing and coating services to the parent, as well as other customers. Both entities are currently registered to ISO 9001:2008 standards.
In 2014, consolidated revenue (removing intercompany transactions) was comprised of 76% (parent) revenue and 24% (subsidiary) revenue. The parent company generates revenue entirely from the manufacture of spring wire forms. In 2014, the finishing/coating subsidiary generated revenue from electro deposit zinc barrel line process (77%), electro deposit zinc rack line process (16%), and black oxide/zinc phosphate (7%.)
The spring manufacturer serves the automotive (45% of 2014 revenue), outdoor power equipment (39%), and other (16%) markets in Tennessee (33%), Ohio (17%), and other states (50 %.)
The finishing/coating subsidiary serves the spring (32%), outdoor power equipment (32%), pipe hangers (13%), and other (23%) markets in Tennessee (80%), Alabama (9%), and other states 11 %.)
• Integrated Operations: The Company is differentiated by its ownership of a metal finishing and coating company, which fills its needs but also serves its own diversified customer base.
• Diversified Customer Industries: The entities serve diversified customer markets including automotive, and outdoor power equipment, which help insulate it from severe cyclicality should any one industry experience a downturn.
• Strong Client Relationships: The Company has many longstanding repeat customers. The top two customers based on revenue generation in 2014 have been doing business with the Company for 20 and 29 years, respectively.
• Strong Balance Sheet: The Company’s shareholder’s equity (unadjusted) at December 31, 2014 was $1,434,000.
- 34 FTE; 30 PTE
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