Tnemec Reports Substantial Sales Growth
Tnemec Company, a leader in industrial maintenance and protective coatings, reports substantial sales growth through the second quarter of 2024. The increase has been fueled by several strategic company initiatives.
“Tnemec has always operated with a conservative financial discipline to benefit our owners with consistent returns, employees with stable jobs, and customers with reliable service,” said Chase Bean, President and CEO. “We’ve successfully balanced this philosophy with meaningful business expansion plans that are driving new revenue for the company.”
Although sales are strong throughout Tnemec’s broad product line, certain segments have done particularly well this year.
“The company made a number of strategic investments over the past five years that are showing impressive results, including the acquisition of Tex-Cote, ProPolymer, and Epoxytec.” Bean continued, “We’re seeing sustained growth in our StrataShield flooring line, and the introduction of Series 21 Epoxoline has been one of the most successful product launches in our history. This momentum is continuing with the hiring of talented industry personnel and new product launches next year.”
For the third consecutive year, the company is breaking records across sales and financial benchmarks. “With sales up and production churning high volumes, the company is realizing healthy profit margins by controlling inventory levels and operating costs,” said Ken Lloyd, Vice President of Finance and CFO. “Our balance sheet has never been stronger. The company is debt free and building cash reserves for major investments in the years to come.”
Throughout its century of business, Tnemec’s commitment to formulating for superior performance is only eclipsed by its focus on the customer. “Ultimately, our customers are the reason we’re experiencing this growth, and I want to thank them for partnering with Tnemec and the company’s independent sales representatives.” Bean added, “Their trust and confidence in Tnemec’s business model is what drives us each and every day.”
For more information about Tnemec and its comprehensive range of industrial coating solutions, visit www.tnemec.com.
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