Growth Report 2: Dearing Puts in Motion Long-term Plan
By Becky Wall
CEO, Dearing Compressor & Pump Co.
YOUNGSTOWN, Ohio – As Dearing Compressor & Pump Company has evolved over the years, the company vision to operate as a family enterprise rooted and connected to the community has remained constant.
In 2023, the Dearing team worked hard to deliver positive financial results in a business climate complicated by labor and materials shortages, rising interest rates and high inflation. We are proud to report we came out on top. After being trampled from the post-pandemic world, we were sold to capacity for the first time since 2019.
The long-term plan for the next wave of business was put in motion and the company made major investments in technology, manufacturing equipment, vehicles for our field service business and, most important, our workforce.
NetSuite ERP, a cloud-based business management solution, was implemented to operate more effectively by automating core processes and providing real-time visibility into operational and financial performance.
The new oil and gas equipment sold in the last decade in the Marcellus and Utica shales is aging and requires comprehensive maintenance. To support this expanding aftermarket, a mechanics service crane truck was purchased.
After the multiyear supply chain issue that plagued the automotive industry, inventory started to improve in 2023 and we were able to obtain vehicles for our field service fleet.
Going forward, there are immediate plans to expand our footprint at the Boardman campus by replacing third-party services with a dedicated in-house team to better meet the needs of our clients in terms of quality and reliability.
We are living in turbulent times in 2024. Dearing will continue our recovery and growth by staying focused on advancing technologies, attracting talent, retaining great workers and increasing safety and sustainability.
Pictured at top: Employees gave $10,000 Jan. 10 to Youngstown Blue Coats, a nonprofit that helps the homeless. The money was raised from a raffle at the company’s holiday party.
Published by The Business Journal, Youngstown, Ohio.
