Diversifying Our Customer Base and Adding New Capabilities in 2017
Comments Off on Diversifying Our Customer Base and Adding New Capabilities in 2017As 2016 came to a close, Ohio Valley Manufacturing held our annual State of the Company address. It was an exciting and productive year for us, and provided the foundation for a great start to 2017. Here are some highlights of our recent accomplishments:
- We’ve expanded our customer base. Our sales and marketing efforts have paid off, resulting in new long-term production opportunities with 6 different customers, 3 of which are completely new companies that we’ve added to our roster. And it seems that business is growing for our customers as well, since those 6 companies make up 8 different “ship to” locations – meaning that they have either expanded or are able to maintain multiple facilities. This is definitely a good sign overall.
- 2016 was also a strong year for our plant assist and short term production services, as we partnered with 10 different companies on those types of jobs.
- We already mentioned that our sales and marketing teams have done a phenomenal job in the past year, but to put it into perspective, 2016 was a record sales year for Ohio Valley Mfg. Once all of the accounting is complete, we expect to have hit more than $50 million in sales revenue!
- All of this work and success means that we can budget for improvements to further enhance our capabilities. As such, we recently added a 1,500 ton Danly Stamping Press to our operations. This investment will allow us to take on even more new orders to assist our growing customer base.
Overall, the trends that we’re seeing at Ohio Valley Mfg. and among our customers reflects the overall state of manufacturing in the U.S. The current economic forecast predicts a period of mild growth in production and job gains. And while we’ve enjoyed impressive growth in 2016, reports point to an even more successful run in 2017. Here’s hoping!