Crain's Detroit Business says the company posted a 116% gain over the last three years.
Grede Holdings LLC had the sixth highest growth rate in southeast Michigan over the last three years, according to Crain’s Detroit Business’ list of the 25 Fastest Growing Companies over the last three years. The list measures revenue growth from 2009 to 2011, during which Grede posted an impressive 116% gain, growing from $462 million to $996 million.
Crain’s attributed Grede’s increase to a combination of strategic acquisitions, new business wins, entering new business segments, improved market conditions, and expanding overseas.
“We are very pleased with our strategic growth,” says Doug Grimm, chairman, president, and CEO of Grede Holdings LLC. “Grede has made seven acquisitions in the last three years, including two foundries in Mexico. We have also expanded overseas through a technical alliance with Switzerland-based Georg Fischer.”
Through a combination of Grede’s manufacturing facilities in North America and Georg Fischer’s presence in Europe, Grede is now the first truly international supplier of cast iron parts in the industry and the number one ductile iron foundry globally. Grede has the capabilities to support customers on global vehicle platforms. These acquisitions combined with organic growth and new business wins have allowed Grede more than double its revenue.
“Our overall philosophy here at Grede has been to harness the “best-of-the-best” in terms of people, assets and technologies in order to provide an unparalleled array of products and capabilities to our customers in the iron castings market,” says Grimm. “Grede’s revenue growth is a clear result of not only our philosophy but also our strong management teams and employees. Their continued support and dedication has turned Grede into one of the leading and most financially sound foundry businesses in the world.”