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Richard Ryman column: SMT adds new lathe machine, workers
SMT Machine & Tool Inc. of Howard this week installed a new CNC lathe, its second such lathe and third new machine in three years.
"We are doing very well," said company president Russ Styczynski. "Customers are buying a lot of new equipment. Before that, it was replacement parts. People are starting to spend some money, but carefully."
SMT has 30 employees and is in the process of hiring two or three more. Styczynski has added 12 employees since buying the company in 2006.
"We are working one shift, but putting in 10-, 11- and 12-hour days, and Saturdays," Styczynski said.
Styczynski said business was brutal in 2009, with some competitors seriously undercutting prices, but he wasn't going to "take a $100 bill and staple it on a skid going out the door" to match them.
"We kept our heads above water, but it was horrible out there. We stuck with several loyal customers that stuck with us. We gave price concessions on an agreed term and now it's coming back to us," he said.
Demand was great enough for the company's first lathe that Styczynski said it was time to buy a second. He got bank financing for the $400,000 project.
"I think what's happening is banks are realizing they have to lend some money out. Rates are very reasonable," he said.
The company is at 1325 Cornell Road. It specializes in machining and assembly work for the paper, printing, construction and food and beverage industries.
The website is www.smt machine.com.
http://www.greenbaypressgazette.com/article/20100822/GPG0703/8220538/1247/GPG03/Richard-Ryman-column--SMT-adds-new-lathe-machine--workers
"We are doing very well," said company president Russ Styczynski. "Customers are buying a lot of new equipment. Before that, it was replacement parts. People are starting to spend some money, but carefully."
SMT has 30 employees and is in the process of hiring two or three more. Styczynski has added 12 employees since buying the company in 2006.
"We are working one shift, but putting in 10-, 11- and 12-hour days, and Saturdays," Styczynski said.
Styczynski said business was brutal in 2009, with some competitors seriously undercutting prices, but he wasn't going to "take a $100 bill and staple it on a skid going out the door" to match them.
"We kept our heads above water, but it was horrible out there. We stuck with several loyal customers that stuck with us. We gave price concessions on an agreed term and now it's coming back to us," he said.
Demand was great enough for the company's first lathe that Styczynski said it was time to buy a second. He got bank financing for the $400,000 project.
"I think what's happening is banks are realizing they have to lend some money out. Rates are very reasonable," he said.
The company is at 1325 Cornell Road. It specializes in machining and assembly work for the paper, printing, construction and food and beverage industries.
The website is www.smt machine.com.
http://www.greenbaypressgazette.com/article/20100822/GPG0703/8220538/1247/GPG03/Richard-Ryman-column--SMT-adds-new-lathe-machine--workers
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