Portec Rail Products named to Forbes 200 best small companies
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Portec Rail Products, Inc., was recently named to the Forbes magazine listing of the 200 Best Small Companies. Forbes states that candidates must have annual revenue between $5 million and $750 million, be publicly-traded for at least one year and have a stock price no lower than $5. Rankings are based on earnings growth, sales growth and return on equity in the past 12 months and over the last five years.
Richard Jarosinski,
President and Chief Executive Officer, stated, "We are pleased to once
again be part of this list of exceptional performers, especially in what
continues to be a very challenging economic climate for our industry. We
believe that the overall diversification in our markets and product groups as
well as providing quality products and solutions have been keys to our success.
Our dedication to developing and applying new technology and innovation to the
offerings that we provide the rail industry is driving the results that allow
this type of recognition. Our friction management product group, and in
particular our Total Friction ManagementTM program, which offers multiple
operational savings for both heavy-haul freight and passenger service, are
examples of the new technology and innovation that we are providing to increase
asset life, operating ratio and bottom-line performance for our customers.
Friction management continues to grow despite the economic downturn, and our
efforts have resulted in a second North American Class 1 customer making a
major expansion in the use of our top of rail friction control solutions.
Additionally, our wayside data management and health monitoring products
provided by Salient Systems, which are improving customer metrics such as train
velocity, asset life and safety are further examples of our commitment to
technology and innovation. We believe that our commitment to the development of
multiple solutions for the success of the rail industry will position Portec
Rail to achieve higher levels of operating performance when favorable economic
conditions return to our industry."
