August 30, 2010 - Despatch Industries, the Minnesota-based global leader in thermal processing technology and equipment, is experiencing incredible growth in 2010. The company's growth is being driven primarily by its thriving global export business. Despatch exports have increased from around ten percent of revenue in 2004, to over ninety percent in 2010. In response to this heightened global demand, Despatch is ramping up its Minnesota manufacturing operations and expanding its employee base. Since March, Despatch has hired over one hundred new employees to its Lakeville facility and has another thirty five positions currently available.
"There are not many companies out there right now that have just hired over one hundred new employees. Despatch is doing something different," states Patrick Peyton, Despatch Industries CEO. "Our growth is due to our ability to be flexible and adapt to fluctuating market situations. We also have an employee base of the most talented, hard-working people. I am very proud of this company and the entire team that make Despatch a continued success story."
Despatch's export business is primarily going to Asia to support the thriving solar cell manufacturing market. In the last year, Despatch has seen a surge in demand for its infrared furnaces from solar cell manufacturing companies in China and Taiwan. More than 95 percent of the solar equipment Despatch manufactures in its Lakeville plant is exported to Asia.
While managing the demands of the booming solar market, the company is simultaneously adapting to a strong upturn in demand for the equipment it manufactures for the electronics market. Peyton continues, "Despatch has 108 years of history that tells us to put the best products out in the best markets and do it well. Following this principle is what is contributing to the growth we have today."
Despatch has specialized in thermal processing for over 100 years. We are actively using this technical expertise to provide innovative solutions and high performance products to the thermal, solar and carbon fiber markets. Our expertise in engineering and manufacturing is backed by our international service and support network. We are truly a global partner that responds locally.