Post by Woody Williams on Nov 11, 2005 8:01:25 GMT -5
I have heard a rumour that Bowtech is looking at making crossbows..
Archery firm has expansion in its sights
By Ilene Aleshire
The Register-Guard
Published: Thursday, November 10, 2005
BowTech, a Eugene-based archery company, on Wednesday announced a $2.5 million expansion that will add 15,000 square feet of manufacturing space and include a 9,500-square-foot extension and remodeling of its retail space.
Work on the expansion is expected to begin immediately and conclude in the spring, said John Strasheim, chief executive. Along with the expansion, the company, which manufactures and distributes compound bows and archery equipment, will add about 35 to 40 jobs, he said. BowTech's existing facilities total about 65,000 square feet, and it employs about 140 people.
In addition to remodeling the existing 3,800 square feet of retail space, the expanded BowTech Factory Pro Shop will include an all-digital interactive archery simulator and a meeting/training center for local archery clubs, hunter safety and other classes.
advertisement The focal point of the retail area will be a 30-yard indoor range with automatic pop-up and retractable 3-D targets and a second-story loft for elevated shooting, the company said. "It is our goal to have the finest pro shop in the world," General Manager Dewayne Tiller said.
BowTech has been growing rapidly since its founding in Eugene in 1999 by Strasheim, bow designer Kevin Strother and a few investors.
It has more than doubled its staff in the past two years, and sales have soared from $6 million in 2002 to a projected $30 million next year. It formed a new division, WaterDog Surface Technologies, in 2003 and last year acquired Diamond Archery.
"The market isn't growing at a high pace," Strasheim said. "But the company is growing at a very, very high rate because we're taking market share from others. ... Our growth rate this year is going to be over 70 percent and it will be above 50 percent next year on top of that."
Strasheim said that a key factor in the growth is the company's investment in technology.
The company is spending millions of dollars on new equipment as it grows, including $2 million in the latest expansion for equipment that will allow BowTech to mill machined components of its equipment in-house.
Up until now, Strasheim said, the company was outsourcing all of its machined aluminum parts to a variety of companies around the United States. Now, he said, about 75 percent will be made in-house. A couple of small local suppliers will not be affected, he added.
"The ability to mill our machined components in-house will have an immediate impact," Strasheim said. "We will be more effective and more efficient. The increased control, combined with less reliance on outsourcing, will enable us to respond to dealer needs at a moment's notice."
Bows offered on the company's Web site start at $289 and top out at more than $800; in addition to archery equipment, the company offers accessories and apparel on its site.
Archery firm has expansion in its sights
By Ilene Aleshire
The Register-Guard
Published: Thursday, November 10, 2005
BowTech, a Eugene-based archery company, on Wednesday announced a $2.5 million expansion that will add 15,000 square feet of manufacturing space and include a 9,500-square-foot extension and remodeling of its retail space.
Work on the expansion is expected to begin immediately and conclude in the spring, said John Strasheim, chief executive. Along with the expansion, the company, which manufactures and distributes compound bows and archery equipment, will add about 35 to 40 jobs, he said. BowTech's existing facilities total about 65,000 square feet, and it employs about 140 people.
In addition to remodeling the existing 3,800 square feet of retail space, the expanded BowTech Factory Pro Shop will include an all-digital interactive archery simulator and a meeting/training center for local archery clubs, hunter safety and other classes.
advertisement The focal point of the retail area will be a 30-yard indoor range with automatic pop-up and retractable 3-D targets and a second-story loft for elevated shooting, the company said. "It is our goal to have the finest pro shop in the world," General Manager Dewayne Tiller said.
BowTech has been growing rapidly since its founding in Eugene in 1999 by Strasheim, bow designer Kevin Strother and a few investors.
It has more than doubled its staff in the past two years, and sales have soared from $6 million in 2002 to a projected $30 million next year. It formed a new division, WaterDog Surface Technologies, in 2003 and last year acquired Diamond Archery.
"The market isn't growing at a high pace," Strasheim said. "But the company is growing at a very, very high rate because we're taking market share from others. ... Our growth rate this year is going to be over 70 percent and it will be above 50 percent next year on top of that."
Strasheim said that a key factor in the growth is the company's investment in technology.
The company is spending millions of dollars on new equipment as it grows, including $2 million in the latest expansion for equipment that will allow BowTech to mill machined components of its equipment in-house.
Up until now, Strasheim said, the company was outsourcing all of its machined aluminum parts to a variety of companies around the United States. Now, he said, about 75 percent will be made in-house. A couple of small local suppliers will not be affected, he added.
"The ability to mill our machined components in-house will have an immediate impact," Strasheim said. "We will be more effective and more efficient. The increased control, combined with less reliance on outsourcing, will enable us to respond to dealer needs at a moment's notice."
Bows offered on the company's Web site start at $289 and top out at more than $800; in addition to archery equipment, the company offers accessories and apparel on its site.
