12/29/2003 - Quatech, Inc., one of the industry's leading suppliers of serial connectivity solutions, was named among the 100 fastest-growing companies in Northeast Ohio. It was the company's first-ever inclusion on the prestigious Weatherhead 100 list. Over the five-year period from 1998-2002, Quatech's sales grew by 98% percent, good for 80th place on this year's list.
"We are extremely proud to be included on the 2003 Weatherhead 100 list," said Steve Runkel, Quatech's President and CEO. "Our growth is directly linked to a customer-first approach and to a strong commitment to providing a reliable, high-quality product at a reasonable price. In addition, our ability to grow profitably sets us apart, and is a significant contributor to Quatech's success in this tough economic climate."
Runkel, along with company Chairman William Roberts, led an investment team that purchased Quatech in 2000. Building on Quatech's strong heritage of well-engineered products, Runkel implemented an aggressive growth strategy beginning with an increased focus on the customer. Today Quatech is one of the fastest-growing companies in its market, setting records not only for growth but also for profitability.
The Weatherhead 100 is a premier business recognition award, given annually by Enterprise Development, Inc., Case Western Reserve University's Weatherhead School of Management and Cleveland Enterprise Magazine. It is based on the percentage of sales growth over the past five years. In addition, nominated firms must be for-profit in nature, have over $1 million in sales in 2002, and be headquartered within Northeast Ohio's sixteen counties. Charter One Bank, American Express Tax and Business Services, and Baker and Hostetler, LLP, sponsored the 2003 Weatherhead 100 program and its events. The 2003 Weatherhead Awards were presented on December 11, 2003 at a ceremony in Mayfield Heights, Ohio.
Quatech is focused on delivering the industry's most reliable serial connectivity solutions. Through quality design, superior manufacturing, and world-class service and support, Quatech maintains the highest levels of reliability that our customers need to achieve lower total cost of ownership for themselves and for their clients. Customers include Fortune 500 companies and government agencies as well as VARs and System Integrators in a variety of industries including financial services, retail, industrial process control, security, aerospace, and hospitality. Quatech is the number one provider of serial connectivity to financial institutions, serving five of the top 10 U.S. banks. Founded in 1983 and headquartered in Hudson, Ohio, Quatech sells and supports its solutions both direct and through a global network of distributors. www.quatech.com.
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