NO REST FOR THE REMANUFACTURER SRC works with a variety of industries including defense, marine and mining.
J
ack Stack’s renowned open-book management style sets the tone for his $529.8 million company. Springfield Remanufacturing Corporation and its holdings operate through transparency, empowering associates to make decisions that propel the business forward. Using Stack’s methods—the subject of his book and coaching program, The Great Game of Business—associates learn the “rules” of business and how to apply them. But beyond its transparency, SRC has succeeded in weathering four recessions through diversification, forecasting and preparing a strong balance sheet. While launching the company, Stack learned building a company was not the same as building an engine, the first product SRC remanufactured. It was about
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seeing that engine a whole new way. They didn’t just have one business tied to that engine, Stack says. “Don’t we make starters and alternators and turbo changers and fuel systems?” he says. “How come we’re not selling those? It’s like everybody’s mind just opened up.”
SRC employees at the company’s electrical facility use these gears in remanufactured engine starters.
BIZ BASICS
SRC Holdings Corp. INDUSTRY: Manufacturing FOUNDING: 1983 TYPE: Private 2016 REVENUE: $529.8 million LOCATIONS: 15 in Missouri and Illinois EMPLOYEES: Around 1,500 EMPLOYEES IN 417-LAND: 6 percent ACQUISITIONS: 12
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