Tonawanda News — While manufacturing has been taking a slide in Western New York for decades, one North Tonawanda company located here for more than a half-century just recorded its best year ever.
Taylor Devices, which creates shock absorption equipment for bridges and buildings in earthquake-prone areas of the world, as well as other devices for machinery and vehicles, has seen its profits grow exponentially in recent years through a burgeoning Asian market.
Its fourth quarter and end-of-year earnings reports, released last week, show it increased its gross sales portfolio by $9 million over the same time last year, largely because of a huge demand for earthquake equipment in countries like Japan and Taiwan, which have seen a rash of seismic activity as of late.
The company’s sales for 2011-2012 hit an all-time record of $29,006,812. Net earnings were also up from last year’s $1,416,590 to $2,198,931.
Company president Douglas Taylor attributes the rise in profits and sales to record shipments of seismic dampers sent mostly to Asia, where an influx in major earthquakes has prompted efforts to protect infrastructure. The company has received 10 such orders from Asian clients during the last quarter alone.
“Our full year sales and net income figures for 2012 set new company records,” Taylor said. “Our firm order backlog at year-end was $17.5 million, up substantially from the year ago level of $15 million.”
Taylor also noted that the expansion of the business into three new buildings is on budget and scheduled for sometime next year, indicating the possibility of even an better financial outlook for 2013.