Restructuring brings profitable first quarter

A SP Precision International product story

Edited by the Electronicstalk editorial team May 13, 2003

SP Precision International had recorded a first quarter profit for 2003.

SP Precision International had recorded a first quarter profit for 2003.

Shelley Espey the CEO of SP Precision said: "SP Precision restructured our management group by bringing in professional managers from the electronics industry and implementing lean manufacturing".

Espey further said, "We have four pieces of manufacturing equipment that allows us to perform "lights out manufacturing" plus the restructuring has allowed us to reduce overhead while paying off capital equipment.

SP Precision has increased sales by adding new products, reducing raw material costs, increasing machine efficiency by 40-50% and increasing on time delivery to the highest level in over two years.

I felt it was necessary to implement these changes to ensure SP Precision maintains our leadership position in the solder fixture industry".

Randy Morrison, Marketing Director said: "It was nice to see such a great turn out at the APEX show.

The 2003 show was the busiest show we have had since 1999! We made a lot of new friends and reacquainted ourselves with some old ones.

It looks like 2003 should be a great year for SP Precision".