Chris Young
One of Chattanooga’s longtime privately-held businesses is bringing jobs “back home.” Earlier this year SMP Industries, Inc. invested in Taurus Display Corporation of Moorestown, New Jersey and merged it with their visual merchandising division, SMP In-Store Marketing. The combined retail marketing division is now known as Spectas.
The merger, along with a prior 2016 decision to transition some of its manufacturing back from China, sets the 70-year old locally-based business on a path to double revenues and create more opportunities for local job growth, said officials.
“Since 1947 Chattanooga has been home to our corporate and manufacturing operations,” said Chris Young, CEO of the company. “Our commitment to our employees here at home remains a top priority. We’re excited about the recent acquisition and really see it as a win-win for both companies, our employees and our customers.”
In contrast to today’s anticipated growth, the late 1990’s and early 2000’s brought overseas competition and forced unpopular decisions for many American manufacturing companies, including SMP. “In those years we had to move some of our plant operations to China, simply to deliver the pricing our customers required,” said Bruce Young, chairman. “It’s not something we wanted to do, but it was essential to our company’s survival at the time. Raw material costs and the large wage rate discrepancies overseas fueled the decisions.”
“Through continued infrastructure investment and an improvement in economies of scale globally, the landscape is changing today," adds Chris Young. "We anticipate as much as 50 percent growth in our Chattanooga employee-count over the next 24 months. That’s something we’re very excited about.”
In addition to local job growth, the company is pursuing opportunities to partner with technology companies from Chattanooga’s burgeoning entrepreneurial sector. “For a product to thrive within tight retail margins, it comes down to science. Improving on that science is something we continually strive to do,” said Mike Sybilrud, vice-president, Sales and Marketing and a 30-year industry veteran. “Gone are the days of ‘if we build it they will come,’’ he continues. “Today we must bear the burden of proof and make every square-inch count.”
“Our customers are among some of the most popular brands in their categories,” said Chris Young. “Our job is to help them showcase their products in such a way that they outperform their competitors at retail - whether it’s a grocery item, a mobile device or a women’s apparel line. We’re looking for new technologies that enhance our customers' sales performance and specifically, that bridge the gap between the consumer's online and retail experience with major brands and retailers."