ATEK Manufacturing Announces Acquisition Of Acrometal
Brainerd, Minnesota: ATEK Manufacturing (ATEK), a contract manufacturing and assembly company headquartered in Brainerd, Minnesota today announced completion of the acquisition of Acrometal, another Brainerd-based company. Acrometal was founded in 1946 in Minneapolis and originally made demountable reels and large sanding machines. In 1972, it moved to Brainerd and diversified into other products including firearms manufacturing. Today it manufactures high-end sporting rifles and specialty products and has proprietary reel and spool product lines. Among its customers are 3M, Quantegy, Weatherby and the U.S. Department of Defense. Acrometal will become a division of ATEK and will actively market their capabilities of complex firearm assembly, stamping, anodizing, automated polishing and other metalworking capabilities. This is ATEKs second major acquisition in six months following its purchase of assets of the Cardiac Surgery manufacturing business of Medtronic, Inc. located in Grand Rapids, Michigan. Christy Bieber Orris, CEO, and Kay Phillips, president of ATEK, project 2003 sales for ATEKs combined operations of approximately $65 million with an employee base of about 300. Kay Phillips will be the operating head of the facilities in Brainerd, Minnesota and Grand Rapids, Michigan. The companys growth strategy is to partner with companies who want to focus on their core competencies of R&D, marketing and sales while ATEK focuses on world-class manufacturing of their products. Orris says ATEK is currently working with a number of companies to either bring their products into ATEKs facilities or taking over their manufacturing within their existing plants. When asked what products ATEK focuses on, Orris responded, We do not dwell as much on the actual product that we manufacture whether it is a medical device, power system or recreational vehicle. Instead, we focus on the service we can provide our customer by building quality into the overall process while improving time to market and the cost to manufacture the product. Our recent acquisitions add to ATEKs strengths, which include turnkey manufacturing and cost reduction strategies utilizing lean manufacturing and supply chain management philosophies. ATEK is one of the largest woman-owned high technology companies in the United States and was recently recognized as the fourth largest Diversity Owned Business in Minnesota in 2002. ATEK will be featured on MSNBC Televisions Terry Bradshaw Pick Of The Week program September 29th between 7:45 8:15 AM (EST). For more information about ATEK, visit the ATEK website at www.atekmanufacturing.com.
Did you enjoy this great article?
Check out our free e-newsletters to read more great articles..