Company's revenues increase 15%
SCOTTSDALE, Ariz., Feb. 23 /PRNewswire/ -- LAI International, Inc., a strategic supplier of precision components and subassemblies for original equipment manufacturers, reported a record-breaking sales year with revenues increasing 15 percent last year.
LAI, which is based in Scottsdale, Ariz., reported 2008 revenues rose 15 percent over the previous year. The company projects another record-setting year with $55 million to $58 million in revenue for 2009.
"We are well positioned in three strong markets for precision manufacturing -- aerospace, defense and power generation," Stewart Cramer, president of LAI, said. "We are committed to continuous improvement and will focus on a number of major performance initiatives to drive improvement throughout the company, including operations, quality, engineering, customer service and sales."
The company will continue to invest in Six Sigma quality management methods and lean manufacturing initiatives, Cramer said.
"A key focus this year will be on building our technological foundation to a higher level and enhancing our core competitive advantages," he said. "We will continue to gain market share in our core markets by broadening our customer base, expanding our service offerings and better leveraging the diverse capabilities of our company. Our focus is to develop value-based manufacturing solutions aligned with our customers' needs and requirements."
About LAI International
LAI is the premier manufacturer of precision engineered components and assemblies for aerospace, power generation, defense and other advanced technology industries. Its technology, engineering and manufacturing solutions are the lifeblood of airframes, aircraft engines, power generators, defense systems and other mission-critical applications.
The company is the largest precision contract manufacturer in its class with the fastest growth as ranked by Inc. Magazine.
LAI has developed longstanding, strategic relationships with leading global players across multiple areas of their operations, including Boeing, Eaton, GE, Lockheed Martin, Northrop Grumman, Pratt & Whitney, Rolls-Royce, Siemens, and more than 70 percent of Fortune 500 global manufacturers.
LAI operates five U.S. manufacturing facilities, with locations in Minneapolis, Phoenix, Tucson, Westminster, Md., and Scarborough, Maine - all of which are ISO 9001 and AS9100 certified. The company also offers NADCAP-certified non-conventional machining processes.
For more information, see www.LAIco.com.
