19-Feb-2014 Source: Spectrum Aeromed
Spectrum Aeromed announced today plans to distribute around $100,000 in profit sharing funds to 21 employees, including interns, at the Fargo location. The bonuses are paid as a reward based on growth in LEAN principals & production initiatives, efficiency, quality, continuous improvement mindset, teamwork, and attitude.
Spectrum Aeromed was acquired by Dean Atchison in 2007 and moved from Wheaton, Minnesota to its current location at Hector International Airport in Fargo, North Dakota in 2008. Under Atchison’s ownership Spectrum Aeromed has been listed on the Inc. 500/5000 list of fastest growing privately-held companies in the U.S., with three year revenue growth of 213%. In 2013 the company topped the list as the fastest growing privately owned company in North Dakota.
“We’ve experienced expotential growth for three consecutive years and we’re fortunate to have the opportunity to reward our team of dedicated employees with profit sharing as a result of their hard work,” said Atchison. We could not have achieved this level of success and growth without their dedication, optimism and drive to reach a level of high performance.”
The profit sharing bonus averages $4,702 per participant. Distribution is based on position and experience within the company. This is the fourth year the company has paid out significant profit sharing compensation to its employees. Spectrum Aeromed has paid out approximately $350,000 since 2010.
“Growth of 213% over a three period is a phenomenal accomplishment and we’re looking forward to continuing the trend. We are very thankful for our excellent team of professionals,” said Spectrum Aeromed Chief Operating Officer Chad Kost.
ABOUT SPECTRUM AEROMED:
Spectrum Aeromed is a leading global designer and manufacturer of custom air medical and air ambulance equipment for fixed and rotor wing aircraft. The company is qualified to produce specialized life support solutions for air, ground and marine support applications. Spectrum Aeromed holds more than 55 Supplemental Type Certificates (STCs) covering more than 390 models of aircraft. Spectrum Aeromed is headquartered in Fargo, ND with a 14,500-square-foot manufacturing facility. For more information, visit www.spectrum-aeromed.com.