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Rising above adversity
Dive into Meyer Tool ’ s journey navigating industry hurdles while fostering expansion
Handling everything from machining and coating to final assembly , Meyer Tool Ltd ( Meyer ) stands as a trusted manufacturing partner for companies aiming to streamline their supply chain management . Meyer is an industry leading , high-tech manufacturing company supplying a diverse range of precision components to the aerospace and gas turbine engine sectors . By offering a complete manufacturing solution for airfoil and hot section turbine component production , the company minimizes logistical expenses and time spent shipping products to multiple sources . Furthermore , Meyer boasts an extensive fleet of over 1100 electrical discharge machining ( EDM ) machines ( including wire , ram , and fast hole drilling ). Notably , the company specializes in waterjet machining , conventional machining , abrasive grinding , laser machining and welding , electron-beam ( EB ) welding , coating , airflow testing , and other processes crucial for the manufacturing of airfoils and other hot section turbine components . Doug Lang , President , provides us with an insightful update on Meyer ’ s endeavors since our last interview in 2021 .
“ Our trajectory has been marked by a remarkable 16 percent growth in revenue . This growth has been underscored by the addition of over 200 skilled positions distributed across our extensive network of 13 sites , thus amplifying our capacity for innovation . Moreover , we successfully acquired a business in Maine named B & B Precise Products , which was a pivotal move enhancing our footprint and capabilities . Concurrently , we have , and still do , persist in our strategy to diversify and penetrate adjacent markets ,” he states .
Doug delves deeper into Meyer ’ s acquisition of B & B Precise Products in 2022 , which has proven quite successful thus far . “ The acquisition of B & B Precise Products was driven primarily by two key factors : proximity and capability . As a result of this strategic move , we have effectively doubled the business over the past two years . Moreover , we have expanded our capabilities and fostered growth with our largest customer . Integrating B & B Precise Products into our portfolio has provided Meyer with advanced milling and turning capabilities , thus enabling us to better cater to the diverse needs of our broad customer base ,” he informs .
As the pandemic and wider geopolitical hostilities continue to affect many industries in various ways , Doug reveals how Meyer has been impacted by this climate of instability . “ Despite the adversities , our military business continues to grow steadily while the resurgence of business aviation has exceeded initial predictions . Meanwhile , the fractional market has expanded considerably , and the
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