2020 In Review
As we close in on the end of 2020, many will be glad to put this year behind them. While we expected the cyclical downturn in the trucking industry and the Presidential election, nobody foresaw the arrival of Covid-19 and the impact it would have on every aspect of our personal and professional lives.
The Pentaflex team has reacted to the “new normal” in the era of Covid and overall have been able to operate with little disruption. Perhaps more than any other in the forty-eight-year history of our company have our employees pulled together to weather the storm, stabilize the organization and poise ourselves for growth in a single year.
While our sales revenue has been negatively impacted, that was to be expected with a 30% decline in our major industry, the heavy truck and trailer market. Pentaflex has been through these cyclical downturns before, so we know how to “batten down the hatches”and ride out the downturn.
Looking Ahead
In addition, Pentaflex has used this opportunity to re-focus our employees and make sure they have the necessary skills to be ready for the eventual return of the market. By concentrating on the basics with our production associates, we are helping them increase their competency in all aspects of the operations here at Pentaflex.
It is our goal to have empowered employees who know what needs to be done and when it needs to be done. We feel that a person operates at their best when they have the knowledge and the ability to use that knowledge in performing their work.
In the new year, Pentaflex will make modest investments in capital expenditures to assist our employees to be as productive as possible. We are asking our associates to take charge and do what they know they need to do. It is our responsibility to make sure they have the tools to accomplish their jobs safely and efficiently.
2021 is showing promise of a recovering market and potential new opportunities in agricultural products, consumer packaging and our traditional heavy vehicle markets. Pentaflex is prepared to say goodbye to 2020 and welcome the new opportunities that 2021 will bring.