GTI Spindle Technology, Inc.
33 Zachary Road
Manchester, NH 03109-5639
Call: 603.669.5993
Toll Free: 888.473.9675
(info@gtispindle.com)

Press Release - November 6, 2007
_______________________

FOR IMMEDIATE RELEASE

MANCHESTER DAILY EXPRESS FEATURES SPINDLE REPAIR COMPANY
GTI SPINDLE IN THE NEWS!

	Company: GTI Spindle Technology, Inc. Amount: $411,000 Purpose: Opened new plant in Detroit at the end of 2006 Express Photo/Jennifer Nickulas) By JENNIFER NICKULAS jnickulas@manchexpress.com
GTI Spindle Technologies, Inc. technician Brian Lacerte repairs a spindle used to propel the rotors on a helicopter belonging to Williams International, a Michigan-based defense company. Thomas Hoenig, president of GTI Spindle Technology, Inc., isn’t worried about manufacturing businesses moving overseas. His Manchester-based company, located at 33 Zachary Road, makes and repairs spindles, the mechanism in just about any type of machine tool used in manufacturing. They are mounted to everything from drills that punch holes through metals to a curling irons that twist Barbie’s hair. Just about every manufacturing industry depends on them. But as important as spindles are, there are fewer than 100 companies in the United States that make or repair them. “It’s very much a niche business,” Hoenig said. He said that for every business that goes overseas, at least one foreign plant opens up in the United States.“It’s not American-owned, but they’re bringing jobs and opportunities for businesses like us,” Hoenig said.That’s especially true in the South, where he said foreign manufacturing companies are opening up often.Even downsizing plants, which is a death sentence for many manufacturing services, is an opportunity for the firm. “Usually specialty departments, like spindle technicians, are the first to go. And that gives us an opening for a multi-million dollar account,” Hoenig said. Among GTI’s more recognizable customers are Boeing, General Motors, Ford, and Caterpillar. GTI Spindle Technology was founded in 1997 by Hoenig and his then coworker Ray St. Onge and Franz Frei, who owns other technology businesses in Shelton, Conn. Since then, the company has grown to amass about $10 million in sales last year, with next year looking even better. Hoenig attributes the company’s success to offering cost-effective solutions rather than just running a repair shop. When technicians receive a broken spindle, they first identify the root of the problem. Along with fixing it, the brainstorm ways that the customer can avoid the problem in the future. “If you’re not more efficient than the next guy, or making U.S. companies more efficient, then you’re not going to be successful,” Hoenig said. “That’s what makes us desirable. One would think that would be counterproductive to business, but Hoenig said that GTI services companies with hundreds of machines. So once they win a customer over, they usually win a large account as well. “If one machine breaks, the entire assembly line breaks down and it is a huge lost savings to the customer,” Hoenig said. The Manchester plant is the corporate headquarters and employs half of the company’s 50 workers. The rest of the personnel is spread out between the Detroit office, which caters to American auto makers; Chicago, which handles mostly farm equipment; and the office inside the Caterpillar plant in Pontiac, Ill. that services strictly Caterpillar machines. An office in Charlotte, N.C. will open in 2008. The Charlotte office represents the manufacturing strength in the South with foreign car companies heading to the United States. Hoenig said that Hyundai just opened a large plant in North Carolina, and anticipates others to follow because of the South’s reputation for friendly labor relations. Article as seen in the Manchester Daily Express on November 6th, 2007.

Select a GTI Spindle Press Release to read... Letter of Gratitude for Charitable Contributions International Manufacturing Technology Show - September 2008 Manchester Daily Express News - Spindle Repair Service Optimized Makino Spindle Repair Capabilities Launched 4th State of the Art Spindle Repair Facility Relocated to a State of the Art Spindle Repair Facility Hired Perron as Spindle Customer Service Manager