Testimonials/News Story
Walco Electric Co. Providence, Rhode Island
Three Dynamic Business Groups “Keeping Industry Productive”
Walco opened its doors in 1931, manufacturing and selling radio antenna kits. Founder Edmund Waldman soon saw an opportunity in repairing and rebuilding the electric motors used in the region’s very heavily concentrated wire and textile industry. Electric motor repair quickly became a thriving business at Walco.
Over the next 40 years, as the regionOver the next 40 years, as the regionOver the next 40 years, as the regionOver the next 40 years, as the region. Over the next 40 years, as the region and the bustling port of Providence grew, so did Walco. Eventually, Walco became one of the largest electrical apparatus service facilities in the northeast, repairing
hoists and cranes, air compressors, welders and pumps as well as repairing and remanufacturing motors and generators. During that time span, Walco also developed one of the largest maintenance machine shops in the northeast, a large electrical contracting business and an electronic motor control group.
Over the many years since its founding, Walco became known for its rich tradition of integrity, innovation and an unparalleled commitment to customer service. Walco is now comprised of three business groups; Rail Transportation/Locomotive, Industrial Power Systems, and Automation and
Controls.
Walco has been in the rail transportation/locomotive business for 30 years and is recognized as a premier provider of engineered solutions. Walco specializes in rebuilding, rewinding and remanufacturing of AC and DC traction motors, generators and auxiliary equipment.
Walco’s Industrial Power Systems provide state-of-the-art maintenance and repair services, which include rebuilding and remanufacturing electric motors and generators for large industrial and commercial applications.
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| Ellis Waldman, President, and Marc Amato, VP of Walco (center left) receive ertification as Siemens Solution Partner. |
Walco’s Automation and Controls group provides system engineering, designing and manufacturing
of industrial control systems in a variety of industries. (Walco has over 1,500 drives and drive systems installed worldwide.)
Walco is a Siemens Solution Partner. They are one of only 11 partners for AC/DC drives in the country and are the only motion partner in the northeast.
Walco has also recently been recognized by Siemens as the only 5-star Panel Builder in New England.
Walco’s industry, especially manufactured electric motors and generators, is heavily impacted by foreign competition. Imports from China and Japan continue to flood the marketplace. Even with their 75+ years of experience and their extensive capabilities, Walco found themselves struggling to compete.
In 2006, Walco entered the TAA for Firms program. With the help of the New England Trade Adjustment Assistance Center (NETAAC), Walco received $150,000 of assistance for creative design and development of promotional materials, website design/upgrades, e-commerce, and
market research and development to broaden brand recognition.
One significant project Walco implemented was a complete redesign of its website. Improvements included a video highlighting its high-quality standards, dedicated workforce and solid commitment to customer satisfaction; e-commerce capabilities for on-line sales, electronic quoting and tracking; and clear identification of Walco’s diversity between their three business groups.
To date, Walco has successfully implemented most of its assistance and is already realizing its impact.
Jan Young, Marketing Development Manager, says “the funding has strengthened Walco’s position in the market. Over the last two years, Walco has seen a $2.5 million increase in its top line revenue from sales to both existing markets and penetration into new markets.”
Employment at Walco has also improved. In 2006, Walco had 86 people; today they have 110 workers, representing a 28% increase in employment.
Jan summarized “without NETAAC’s funding, we could not have undertaken the marketing efforts necessary to grow. The increased revenue generated by these projects will allow us to continue existing programs and expand on their successes in new areas.”
February 9, 2009
New England Trade Adjustment Assistance Center, Inc. (NETAAC)
71 Faulkner St., N. Billerica, MA 01862