Seal Methods had a successful 2022 with several location additions and upgrades. We successfully launched our Texas manufacturing location, we brought on several manufacturing pieces of equipment, and we our servicing that region out of our Texas facility. We also added additional components that are better sourced for our customer base out of Texas, allowing us to be closer to our customers. We also had an increased focus on safety throughout our company. We brought on a specific safety and training coordinator to strengthen that part of our business and create a safer working environment.
It has been a great year for SMI!
We had a great year as we dealt with the current economic climate challenges. We had several record months and a record year for our 2022 calendar year, going into our 2023 fiscal year, which is something we’re proud of.
We’re very, very happy that our business is bigger and better than it’s ever been before. There are always challenges to having multiple locations, but with continued training and documentation, better processes, and workflow, we’re able to overcome that. We have increased travel by management visiting these facilities, and we’re so impressed with the great people at the facilities. In Texas, we have great leadership on site, and we’ll be focusing on more training and mirroring the manufacturing processes between different locations.
Our buying and consolidation are based on volume because we don’t typically buy from regional distributors. We buy from the mills, for the raw material manufacturers. So it definitely gives us a bigger footprint and puts us at a different level in the eyes of our suppliers because they see that we are growing and they continue to want to work with us.
With near sourcing from our plant in Mexico It certainly can help us navigate some of the taxes on import tariffs on raw materials coming from overseas. If materials are made in Mexico, it definitely helps that we can locally source materials. But oftentimes, raw materials are made here in the states, and we finish parts for local distribution, or we can ship raw materials down to manufacture and utilize that Mexico plant’s capability.
We see the ELECTRIC VEHICLES sector continue to grow and become a viable mode of transportation and not just a trend. It’s now becoming a normal mode of transportation with increased products, performance range, and fit and finish. With our background, expertise, and knowledge that we’re able to bring to this market, we see nothing but growth for Seal methods and the EV and energy storage market.
In addition, Energy STORAGE and solar energy are definitely on a GROWTH TREND now. It’s another way to help subsidize these strained power grids where more and more energy is required to charge some of these electric vehicles. We need to be able to supplement the power grid with some solar energy.
We continue to find efficiencies in our equipment that allows us to produce more parts and get better yields on materials. With automation with multiple stations and rotary presses, we’re able to increase automation in that way. There’s still a lot of packaging and handling that is challenging to automate, but we are getting more out of our equipment by creative tooling, precision equipment, and new technology with more that allows us to make a better part, at a higher speed.
We see a bright future for Seal Methods Inc. and are very excited about 2023.
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