Sliver of light IX: Riding the precision manufacturing wave
LAI International Inc. reports a record-breaking sales year with revenues increasing 15 percent last year
LAI International Inc. (Scottsdale, AZ), a supplier of precision components and subassemblies for original equipment manufacturers, reports a record-breaking sales year with revenues increasing 15 percent last year. Revenues for 2008 rose 15 percent over the previous year. And, most significantly, they project another record-setting year with $55 million to $58 million in revenue for 2009.
Stewart Cramer, LAI president, says, "We recognize the challenges that our customers are facing in this economy and believe that opportunity lies in offering higher value, superior service, and flawless execution. We stay focused on improving our technologies, processes, and internal procedures to support this. LAI has built very strong relationships with our customers and believe that there is still demand for highly engineered precision manufacturing solutions."
He continued, "We are well positioned in three strong markets for precision manufacturing: aerospace, defense, and power generation. We are committed to continuous improvement and will focus on a number of major performance initiatives to drive improvement throughout the company, including operations, quality, engineering, customer service, and sales."
"A key focus this year will be on building our technological foundation to a higher level and enhancing our core competitive advantages, he said. "We will continue to gain market share in our core markets by broadening our customer base, expanding our service offerings, and better leveraging the diverse capabilities of our company. Our focus is to develop value-based manufacturing solutions aligned with our customers' needs and requirements."
The company is the largest precision contract manufacturer in its class with the fastest growth as ranked by Inc. Magazine. LAI, founded in Westminster, MD in 1979, now operates five U.S. manufacturing facilities, with locations in Minneapolis, Phoenix, Tucson, Westminster, Md., and Scarborough, Maine.
Click here for other articles about the company.