Our 2018 Business of the Year, Matric Group
, is an electronics manufacturer based in Seneca that has reliably and affordably provided original equipment manufacturers with safe, effective electronics for 47 years.
In 2018, Matric saw healthy revenue growth, increasing 30 percent over 2017, which increased 21 percent from 2016. With all this success, Matric had the need to expand, adding more than 100 new employees in 2018, with a total workforce now at 330.
This growth led to record-breaking numbers on the production floor. Matric placed 19.6 million parts last year, beating its previous high of 17.9 million set in 2014. This effort was fueled by production on the company’s new high speed SMT line, which placed 41 percent of the parts.
For the third time in four years, Matric was presented the Komatsu “Premiere Supplier” award in July. This honor requires recipients to demonstrate an exceptional level of quality–less than 3,000 defects-per-million or 95 percent on-time delivery–in addition to hitting a minimum sales threshold. The two companies have a partnership extending back nearly 50 years.
The company was also selected as a recipient of the 2018 Governor’s Award for Safety Excellence for a second time (the first was in 2015). A deciding factor in Matric’s nomination was a record-breaking medical-claim free streak lasting 753 days from March 2016 to April 2018. Although the streak has ended, Matric associates continue to prioritize safety and continue to work hard towards building another impressive run.
Away from the facility, business development efforts took place across the country at various trade shows. Matric and its sister company Dynamic Manufacturing exhibited shows in Cleveland, OH, New York, NY, San Francisco, CA, Las Vegas, and Nashville, TN.
Outside of business, Matric and its associates strived to make a difference in the community in which we live and work. This year, Matric associates raised $16,004 for the United Way of Oil City, a total matched by the company.
In December, the “Fill Up the Matric Van” initiative invited associates to provide food and supplies in assistance of Family Services and Children’s Aid in Oil City. Originally founded as a benefit for a disabled Matric associate in 1993, the tradition has come a long way, with nearly 18 boxes of goods collected this year.
As we move into 2019, the focus at Matric is the same as it’s been since President Rick Turner bought the company in 1993: “As with the last 25 years, we are committed to slow, profitable growth with continued reinvestment in our business.”
Matric will be honored at our Annual Dinner on Wednesday, February 27.
This article was published in the Venango Area Chamber of Commerce’s February 2019 VenangoWorks! Newsletter.