Aug 23, 2018 Updated Aug 24, 2018
P.J. Wallbank Springs Inc. in Port Huron has been named to this year's Inc. 5000 list, a prestigious ranking of the nation's fastest-growing private companies.
The company, described as a global leader in the design and manufacture of spring packs for automatic transmissions, was ranked No. 4,123 with a three-year revenue growth of 84 percent. The Inc. 5000 list is featured in the September issue of Inc. and online at inc.com/inc5000.
"We are thrilled about being included in the Inc. 5000 as one of the 5,000 fastest-growing organizations in the United States," P.J. Wallbank Springs Inc. President Chris Wallbank said in a news release. "This award demonstrates the continued impact we are having, not only within our organization and our community, but also on the world."
Founded in Port Huron 35 years ago, the engineering-focused company started by designing and building its own proprietary manufacturing equipment in order to produce its spring packs, a strategy it continues to use.
The organization now exports half of its production outside of the United States, with more than half of its export volume being shipped to China.
"This achievement was only possible because of the contributions of the great people we have within our organization," Wallbank said.
The company also recently expanded with the purchase of a building located at 2005 Petit St. in Port Huron, adjacent to its current location at 2121 Beard St. Part of the property will become the Customer Welcome Center, where employees will meet with customers and other visitors. A new training center, as well as international shipment storage and product testing spaces, are also planned.
The 2018 Inc. 5000 was ranked according to percentage revenue growth when comparing 2014 and 2018. To qualify, United States-based, privately held, for profit and independent companies must have been founded and generating revenue by March 31, 2014.
"If your company is on the Inc. 5000, it's unparalleled recognition of your years of hard work and sacrifice," said James Ledbetter, Inc.'s editor in chief. "The lines of business may come and go or come and stay. What doesn't change is the way entrepreneurs create and accelerate the forces that shape our lives."
The annual Inc. 5000 event honoring the companies on the list is scheduled to run from Oct. 17 to 19 at the JW Marriott San Antonio Hill Country Resort & Spa in San Antonio, Texas. Speakers will include innovators and business leaders.
— Emily Pauling, The Voice
P.J. Wallbank Springs Inc. in Port Huron has been named to this year’s Inc. 5000 list, a prestigious ranking of the nation’s fastest-growing private companies.
The company, described as a global leader in the design and manufacture of spring packs for automatic transmissions, was ranked No. 4,123 with a three-year revenue growth of 84 percent. The Inc. 5000 list is featured in the September issue of Inc.