I am proud to write this post today about UEA's growth. Our current fiscal year is off to a roaring start thanks to our loyal customers. All of our product lines: electrical slip rings, electric cable reels, and transmission shift controls are selling at record revenue levels. All of our core markets in construction, forestry, and utility equipment as well as wind generation, intelligent machinery, packaging and material handling along with center pivot irrigation are doing very well. We are very excited to formally announce our new product line in the next month. Besides current customers for slip rings, cable reels, and shift controls, new customers in current markets will help us increase our market share.
April will see the construction of additional office space for our quality, engineering and sales
departments. Each time we feel we have enough capacity for the next 5 years, we seem to max it out in 2 – 3 years. In addition, we are starting planning for an approximately 14,000 square foot addition to our north plant campus, construction will start a year from now. This will give us the space for the rapid growth we anticipate in our newest product line introduction and current product growth. We are nearly fully utilized with our current 70,000 square foot structures. There will not be room for additional machinery needed without this new structure.
The next question to answer will be what additional space can we squeeze into our present land footprint? At some point in the next 5 years we may need to find additional land availability to utilize. Wait, maybe I should say 2 to 3.
-Mark Hanawalt, President