IMI Honored as 2019 Michigan 50 Company to Watch
For Immediate Release: Posted On 3/19/2019 By Industrial Magnetics, Inc.
Industrial Magnetics, Inc. (IMI) of Boyne City, MI has been recognized as one of the 2019 “Michigan 50 Companies to Watch”, an awards program presented by Michigan Celebrates Small Business. They will be honored at an awards ceremony during the fifteenth annual Michigan Celebrates Small Business gala event on May 8, 2019 in Lansing, Michigan.
The company designs, engineers and manufactures permanent and electro-magnetic assemblies for holding, lifting, fixturing, conveying, and magnetic separation applications in a wide variety of industries, including metalworking & fabrication, automotive, food processing, pharmaceutical, and mining.
Dennis O’Leary, Chief Business Development Officer for Industrial Magnetics, comments, “We’re extremely honored to receive this award. Our family of employees works incredibly hard to design, manufacture and deliver product with industrial-grade craftsmanship that is on time and as expected. Last year, we processed over 14,000 orders and delivered at a 98.7% on-time rate. Our speed to market is unrivaled, especially given that more than three quarters of what we design and manufacture is application specific - so it must be right the first time.”
Companies who are selected as a “Michigan 50 Companies to Watch” are a remarkable group of second-stage companies. Defined as having 6 to 99 full-time-equivalent employees and generating $750,000 to $50 million in annual revenue or working capital from investors or grants, these companies form the backbone of Michigan’s economy. Representing all regions of the state and a diverse range of industries, companies like Industrial Magnetics are known for their exceptional entrepreneurial leadership, creation of innovation or use of innovation in creative ways, and their sustainable competitive advantage.
“We at the Michigan Celebrates Small Business organization are proud to recognize these exceptional companies. They are a tremendous part of Michigan’s success and we are excited to see what the future holds for them,” said J.D. Collins, State Director of the Michigan Small Business Development Center and a member of the Michigan Celebrates Small Business Board of Directors.
Winners were selected by Michigan-based judges from the banking, economic development, entrepreneurship development, and venture capital communities. The selected companies also go through a rigorous due diligence process.
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