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Posted: 6:43 PM Apr 23, 2009
A Global Vision For the Future
A local manufacturer expects nearly 50 percent of its' business this year to be international.
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Economists say many local manufacturers have no choice but to jump into the international business ring in order to make it out of this recession 23 news economic reporter Kristin Burke spoke to a South Beloit manufacturer who took the plunge several years ago.. and is happy they did.
" Three years ago we weren't selling anything internationally and six months ago our entire shop was 100 percent going international."
As the recession tightens its grip..it is forcing many businesses to look for new customers in new places ... In order to hang on... Just ask John Franks..
" It gives up an opportunity to expand our base we've been able to capitalize on some opportunities and its been a big part of or business over the past couple of years ."
Electrol makes cleaning equipment for pharmaceutical and bio tech companies. It caught the global fever several years ago... And a good amount of its success during the downturn has come from points East and West .
"Ireland and Singapore and there's economic incentives for them to do that."
"Despite the recession business is up at
Electrol.. but management is cautious about what's ahead."
"The economy has to catch up to us at some point. We're living off the fat of the capital goods business that's been in place for awhile .. we expect that to be dropping off and may take awhile to come back."
When the pain finally hits this small South Beloit shop... Franks is very aware expanding Electrols horizon even further will be the key prescription for future economic health.
"we may not be making as many pieces of the same equipment but hopefully offer other pieces to make our base broader"
In South Beloit Kristin Burke 23 News Right Now
Electrol has been doing business in South Beloit for over 50 years .For more Economic advice head to wifr-dot com and click the Economy Rockford icon.





