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This is Fred Ball for Zions Bank, speaking on business.
I continue my series on Utah companies with international ties today by talking about a successful company that grew from a tiny father-son operation into one of the foremost manufacturers in the United States which has international distribution.
Steve Petersen grew up helping his father, Denis, run a small welding shop out of the family's garage. At the age of 14, Steve became a certified welder and joined his father in the business. Eventually the work load got heavy enough that the Petersens built a shop behind their garage and entered into a full partnership. Things really picked up after they started into specialized welding which expanded into sheet fabrication and machining, or manufacturing machine parts.
Today Ogden-based Petersen, Inc. employs more than 450 employees and boasts a facility with a million-and-a-half square feet. The company has four main focuses: steel fabrication, precision machine component production, field services installation, and warehousing/distribution. One of the most in-demand markets is alternative energy and any parts associated with it.
The company's products are distributed in countries all over the world such as Russia, China, Chile and Malaysia. Most of them don't have the Petersen label because they are sold by original equipment manufacturers under private label. Having such a wide distribution has been a real boon for the company and promoted its extensive growth — even during slower economic times in the U.S.
Steve says the company has evolved from its launch back in 1961. Not only has its facility and employee base expanded, but ownership has shifted from Steve and his father to Steve, his wife and the employees, who own 20 percent of the company. Lean manufacturing, or producing only the amount of product needed for a specific job as opposed to building an inventory, has also been critical to the company's success.
For Zions Bank, I'm Fred Ball. I'm speaking on business.
Petersen, Inc. 1527 N. 2000 W. Ogden, UT 84404 801-732-2000 www.peterseninc.com
