GEM achieves 35-percent growth goal

ORANGE PARK, Fla. – GEM Products will achieve its goal of 35-percent growth for 2004 due to an increase in demand for its marine stainless steel hardware products, the company said in a press release Friday.

During the past seven years, GEM has had an annual average sales growth of 30 percent, going from $2 million in annual sales to close to $12 million in sales today. The company said it is forecasting similar growth in 2005.

“It has been a tremendous year,” said Matt Bridgewater, president of GEM Products. “With a new online ordering system, operational enhancements and various new product introductions, we’re determined to take the business to new heights by providing our customers with the highest quality stainless steel hardware in the industry.”

GEM has hired more than 10 employees in the past two years in Inside and Outside Sales, Quality Control, Marketing and Engineering. In addition, GEM recently created a supply chain manager position at its Orange Park headquarters and hired Ken Tocco, a 20-year veteran of the packaged goods industry. Tocco joins GEM after 8 years as the production manager for a major toy manufacturer in Florida, where he helped grow production levels by 70 percent.

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