Ohio "E" Award winners

Recently, 29 Ohio companies were recognized by Governor Taft with the "E" Award for excellence in exporting. The award ceremony was aired on cable by the Ohio News Network.

Here's a quick rundown of the companies recongnized; some with commentary. Most of the companies are private and many of them are family businesses. (Porkopolis is not affiliated with any of the companies commented on.)

(+)

• American Augers, Inc. – Exporter of the Year; a division of of Astec Industries. This company manufacutures horizontal drilling equipment and noted upon receiving the award that China has shown a lot of interest in their offerings. Company's stock (ASTE) is up 36% in the last 12 months, has a P/E of 22, a forward P/E of 16, sales of $530 million and growing quarterly revenues at 19% with very little debt (debt to equity of 0.218). From their annual report it looks like earnings have not been consistent but it appears they will benefit from road construction projects (unfortunately, some of them being pork projects) making their way through Congress. American Auger and its parent company is worthy of further of research and placement on your watchlist of stocks.
• Astro Instrumentation LLC - A small, privately held medical instrumentation device manufacturer.
• Barco Simulation - a designer of large screen projection systems.
• Comet Automation Systems, Inc. - a private, international developer of plastic processing equipment.
• FirstEnergy Corporation - Large, Akron-based electric utility. Like most of the utility indusy, FE has had a pretty good stock price appreciation over the last few quarters. The company pays a nice dividend of 3.8% which was increased 10% at the end of last year. Another Ohio-based utility companies to look at in is Cinergy which will soon be acquired by Duke Energy.
• Honeywell / Grimes Aerospace Company - Contractors like Honeywell have generally benefitted from defense spending, but Honeywell has been basically flat over the last five years. GE attempted to buy Honeywell a few years ago, but European regulators killed the deal; too bad.
• IES Systems, Inc.
• Impulse Wear Inc.
• Kegler, Brown, Hill & Ritter Co. LPA - KBHR is a member of the State Capital Global Law Firm Group. Porkopolis senses some heavy duty political connections here.
• Lion Apparel, Inc. - a supplier of military equipment since World War II.
• Ludlow Composites Corporation
• Mayflower Vehicle Systems Inc. - A British-based corporation with facilities in Norwalk, Ohio.
• Nylonge Company - a sponge manufacturer in Elyria, Ohio.
• Ohio Willow Wood - a prosthetics manufacturer.
• PROSONIC Corporation - a drilling services corporation.
• Prospect Mold Inc. - manufacturing and engineering services.
• Replex Plastics - a plastics manufacturer.
• Rexarc International, Inc. - a welding services company.
• Richards Industries - an industrial valve manufacturer.
• Rite Track - a Cincinnati-based manufacturer of track systems for the electronics industry. Rite Track was mentioned by the Cincinnati Enquirer in April 2001 as part of a possible Midwest Silicon Alley.
• Schaefer Equipment, Inc. - a train brake manufacturer.
• Sensor Technology Systems, Inc. - a Dayton-based manufacturer of night vision goggles.
• Signature Worldwide - a business services company.
• Smiths Aerospace - an aerospace equipment and systems company.
• Spirex Corporation - plasticating systems and solutions.
• Sweet Manufacturing - an industrial and agricultural machinery manufacturer.
• The Cleveland Orchestra
• The Fremont Company - a company servicing the food packaging industry.
• Vellus Products Inc. - a private pet products manufacturer; a growing industry...just ask P&G.