Proof of the fact that leading-edge manufacturers continue to grow can be found in the Philadelphia suburb of Willow Grove, home base for the EF Precision Group
The company makes machinery and components for customers including health-care powerhouse Johnson & Johnson
and big-name defense contractor Northrop Grumman
. About 40 percent of its business comes from the aerospace industry and defense contracting, although medical products are another major component of its revenue, which totals about $18 million annually.
EF Precision recently learned that it will be honored next month by Philadelphia SmartCEO magazine
for its status as one of the 50 fastest-growing companies in the region. Company VP Bud Tyler didn't give specific figures, but said the firm's growth has been steady and gradual and is on pace to continue this year. The company has recently taken on some projects in the wind energy and water industries – details aren't public at this point – that could result in another 10 or 15 jobs being added to EF Precision's 85-person payroll next year.
The company has also developed a new kind of orthopedic mallet
. Its design is meant to replace mallets whose heads often break off while physicians are using them. Tyler notes that this is EF Precision's first patented product that it has designed itself.
Source: Bud Tyler, EF Precision Group
Writer: Rebecca VanderMeulen