Lincoln, Nebraska, Feb 17, 2012 -- Allmand Brothers, Inc. of Holdrege, Nebraska was recognized today at a White House and U.S. Department of Agriculture event recognizing manufacturing success in rural America. Matt Allmand, owner of Allmand Brothers, Inc., participated in the event at the White House. Also present was John Boehler of Bruning State Bank of Holdrege, the lender for the USDA Rural Development loan guarantee to Allmand Brothers, Inc.
Allmand Brothers, Inc. was selected with other manufacturers from around the country for successfully establishing and growing a business in a rural region, such as Holdrege that is home to 5,636 rural residents. Established in 1938, Allmand Brothers, Inc. is a leading manufacturer of a wide variety of portable light towers, job site heaters, compact tractor loader backhoes, Port-A-LiteTM light stands and solar arrow boards.
The Company has 35-40 percent of its business in international sales. The downturn in the economy in 2009 noticeably affected sales, following the trend for manufacturing companies nationwide. Due to the downturn, staff was reduced to 120 employees.
USDA Rural Development’s Business and Industry Guaranteed Loan program, through the American Recovery and Reinvestment Act, provided a guarantee on a loan originated by Bruning State Bank of Holdrege. The funds allowed the Company to restructure their financial plan for the company.
With the restructure, the Company has now hired 98 employees for a total of 218 jobs. The company continues to be one of the largest employers in Holdrege and offers competitive wages and full benefit packages to its employees. The company also added new equipment to its production line, allowing it to bring back previously outsourced jobs and to increase its bottom line. Domestic sales resumed to increase by using a similar sales model to that used for international sales.