CEO cites company’s employee ownership and diverse business for strong 60th year
Chester, Pa.-based Fisher Tank Co. has been marking its 60th anniversary with celebrations in Chester as well as in Lexington, S.C., and Cropwell, Ala., towns where Fisher Tank has a manufacturing facility and a sales office, respectively.
But, while being in business since 1948 is certainly an achievement worth noting, other accomplishments have taken the limelight from the 60th anniversary celebrations.
Despite the weak economy, the company has experienced one of its best years. The petroleum industry has remained strong through much of the year, driving steady work for Fisher Tank. The company's work in the power industry has also been growing.
The country's ethanol fuel production capacity has grown dramatically, reaching 7.5 billion gal in 2007, a 40% increase over 2006. And U.S. ethanol production is predicted to increase to 13.3 billion gal in 2008. One result has been a fast-growing need for ethanol storage tanks over the past few years, and Fisher Tank has seen this segment of its business grow.
Fisher Tank has grown geographically from an East Coast supplier of storage tanks to a company doing business throughout the continental U.S. and internationally, including work in Qatar on the Persian Gulf and in the Bahamas. The number of its field crews has increased more than 40% since 2005.
In August, Inc. magazine named Fisher Tank to the Inc. 5000 list of America's fastest-growing private companies. The company ranked 2,222 based upon revenue growth of 165% from 2004 through 2007.
"We have taken great pride in our growth over the past few years," said Mike Szelak, the company's president and CEO. "But being named to the Inc. 5000 was a nice surprise."