ICM Controls Reports Record Sales Growth, Improved Delivery Metrics, and Capital Improvements During FY2021
SYRACUSE, N.Y., July 29, 2021 (Newswire.com) – ICM Controls President & Chief Executive Officer Joseph Bonacci recently disclosed positive fiscal year 2021 performance results for the Syracuse, New York-based electronic controls designer and manufacturer. Highlights include a 30% growth in ICM’s annual sales and increased on-time delivery by 20%. Bonacci also noted the company’s substantial investment in millions of dollars of capital equipment, including automation machinery, and the addition of two new facilities—a 14,000 ft2 manufacturing facility and a 4,000 ft2 warehouse facility—all part of ICM’s continued commitment to vertical integration, speed to market, and providing high-quality, American-made products.
As a provider of parts for equipment used on the front lines to stop the spread of coronavirus, ICM Controls was granted an exemption from New York State’s 100% workforce reduction mandate and was able to remain operational throughout the pandemic. A change in last year’s sales strategy also bolstered growth as ICM expanded beyond its leading position in the HVAC industry and began aggressively targeting five new vertical markets: Appliance, RV, Marine, Pool & Spa, and Electrical.
In a year when businesses across multiple sectors are reporting decreased sales and reduced profits due to COVID, Bonacci credits the company’s performance to ICM’s ability to pivot on the fly. “2021 wasn’t a normal year for anyone in business. ICM is certainly no exception,” shared Bonacci. “However, a lot of businesses would be thrilled just to break even, but ICM was able to grow our market share and expand our market presence in a way that allows us to maintain the quality and value of our product portfolio and the satisfaction of our customers as priorities. I’m incredibly proud of every member of the ICM team. This kind of success would be commendable any year, but during a global pandemic, it’s really exceptional.”
ICM Vice President Zachary Kadah echoed this, saying, “ICM is known as an American manufacturer that delivers speed to market without jeopardizing quality. The ICM Team showed up every day through a pandemic to demonstrate our abilities last year and continues to do so now. We are proud to prove there is success making it in America.”
ICM designs and manufactures all of its products at its state-of-the-art manufacturing plant in Central New York, where it essentially combines three factories under one roof – captive printed circuit board fabrication, fully-automated electronic assembly, and captive injection molding, making ICM Controls one of the most vertically integrated facilities in the country. In light of pandemic-related shipping delays and import restrictions, ICM’s vertical integration and US-based manufacturing were competitive advantages.
About ICM Controls
ICM Controls is a leading, ISO Certified manufacturer of electronic controls for the HVAC-R market and other industrial applications. For more information, visit. ICMControls.com