Editor’s Note: The following story is from Growth Report 2017, published by The Business Journal.
COLUMBIANA, Ohio — If there’s one word to describe the business outlook in 2017 for Compco Industries and QFM Stamping Inc., it’s optimism.
The family-owned business, based in Columbiana and in the third generation of ownership, supplies tank heads and custom stampings.
“The industries Compco serves such as propane, commercial water heaters, air compressors and water filtration have strong potential and a bright outlook ahead,” says Rick Fryda, CEO. “This will keep Compco and QFM busier than ever.”
In 2016, Compco improved production quality, turned out new products and invested in new equipment to meet customer specific demands. Compco also upgraded one of its major press lines, focusing on process improvement.
“Business remained steady and solid with an intense focus on our customers and the quality of each product formed in our Columbiana and Salem locations” Fryda says.
Growth was evident last year at QFM Stamping in Salem, he continues, which Compco acquired in 2015. The custom metal-stamping shop added customers, boosted production and more than doubled the number of employees. With a complete remodel of its production processes, QFM is now completely aligned with Compco’s business objectives.
Meanwhile, an e-commerce site (TankHeadExpress.com) was reintroduced to the market.
“Making improvements to our website offers the opportunity to purchase our stocked inventory with ease” says Fryda.
“The accomplishments of 2016, and those we will see in 2017, would be nothing without our 148 dedicated employees,” he emphasizes. “Our employees are always the center of our focus, placing emphasis on continuing education and growth, which in turn produces big things for the company.”
Copyright 2017 The Business Journal, Youngstown, Ohio.
Published by The Business Journal, Youngstown, Ohio.
CLICK HERE to subscribe to our print edition and sign up to our free daily headlines.