The company sells directly to the user, with an international reach. Riveting machines are used in a huge number of companies, large and small.
65% of current sales are exports to the USA.
10% go to Mexico, Central America, and Bolivia.
25% stay mostly in Canada, but a few of these go overseas, such as the recent shipment of 16 machines to Israel. In the past, shipments have been made to Europe, Australia, and Egypt.
Forecasts are very positive for growth. The reshoring of American industry is booming, and many of those new and expanding facilities will require riveting machines. As the largest supplier in North America, sales can increase for the next several years.
The end of fiscal 2021 and most of 2022 saw a decline in sales. This was not caused by any market conditions or company failure. The owner needed to take time off for personal reasons, otherwise, growth could have been maintained.
The 30-year history has created awareness among a minority of potential buyers. The potential for growth is available to anyone who can create awareness in the rest of the marketplace.
