Global Precision Industries Inc. has moved from a 1,500-square-foot space in Germantown to a 7,000-square-foot facility in Menomonee Falls.
The company was previously located in office space at W175 N11081 Stonewood Drive, Suite 207, in Germantown, and has moved to W14665 Whittaker Way in Menomonee Falls, which has more warehouse room for its expanding prototyping operations.
The engineering project management, logistics and production expertise provider, which currently has six employees, plans to expand to 15 to 20 employees by the end of 2015. It will now offer rapid prototyping, product design, testing, product qualification and product launch.
Global Precision has experienced revenue growth of 30-70 percent over each of the past four years, said Ron Pence, chief marketing officer. The growth is driven by repeat business from existing clients, expanding capabilities in the area of product design and the expansion of its production and manufacturing capabilities.
Global Precision also has an office in Ningbo, China, to service growth in the business and act as an in-country platform for U.S. opportunities. The company is on track to earn $4 million in revenue this year.
The company is adding additional prototyping machines and also has plans to acquire another company in the next couple of months, Pence said.
“This expansion recognizes the value of our business model to right shore projects that meet specifications, timelines and cost constraints,” said Gale Pence, founder and chief executive officer. “Right shoring allows us to produce at the optimal point around the globe (including the U.S.), while maintaining full control from design through delivery and qualification.”
Gale Pence received a BizTimes Bravo! Entrepreneur Award in May.
