Industrial Magnetics Sets Sales Record
The company reshored as much manufacturing work as possible to meet sales demand with increased efficiency, throughput and profitability.
Posted: February 21, 2015
Industrial Magnetics, Inc. (Boyne City, MI), a designer and manufacturer of magnetic products, announced that 2014 set another record for company sales. This marks its fifth consecutive year and 14 out of the past 15 years for revenue gains.
IMI president Dennis O’Leary states, “2014 is a very positive reflection on our employees’ efforts. We processed a record 13,614 orders and manufactured over 1.1 million parts, producing and shipping more product from our U.S. facility than ever before. We have been bold on reshoring as much assembly and manufacturing work as possible from the Pacific Rim, and we were able to accomplish this in tandem with increasing our efficiency, throughput and profitability, three internal target areas for success which allow us to continue investing in our future growth.”
He continues, “When IMI was established in 1961, it was founded with a pretty simple goal in mind, know the customer and the application, manufacture the best solution and deliver it as promised. A lot has changed, but we still believe our success is rooted in striving for this goal. Our staff, channel partners and customers are all responsible for the results we’ve been fortunate to attain.”
Since 1961, Industrial Magnetics has been an industry leader in providing innovative permanent and electromagnetic solutions to meet the exact needs of applications in automotive, appliance, metalworking and other industries.
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