Lancaster, Pennsylvania – November 7, 2008 – Advanced Cooling Technologies, Inc. (ACT) was honored as one of the finalists for the Central Penn Business Journal Business of the Year award in a award gala held on November 3, 2008.
Below is an excerpt from the award presentation:
“Located in Lancaster, ACT specializes in technology development and custom thermal product design and manufacturing. The company’s founders were attracted to the region’s diverse commercial base of manufacturers, financial institutions and educational entities, which have been vital to the company’s success.
Created in 2003, ACT was small compared with its competitors. Some of its biggest challenges early on were accurately defining market-penetrating strategies and applying its limited resources to support these strategies.”
“But ACT quickly gained a reputation of being innovative, competent and customer-focused after competing for, winning and executing research and development (R&D) contracts with various government and commercial organizations. These contracts established the company as a serious player in the field, in spite of its small size.
Since its inception, ACT has enjoyed a more than 80 percent compound annual growth rate in revenue. As the company expands its technology, service and product offerings, its customer base is also growing. ACT currently serves customers worldwide in aerospace, military, industrial equipment, consumer products and government R&D markets. More than 10 of these customers are on the Fortune Global 500 list.
But the company’s greatest asset is its staff, which has grown from one employee five years ago to 40 employees today. The company maintains an open culture that encourages innovation and learning through brain storming sessions, internal mentoring processes and an Employee Profit Sharing Bonus Plan.
ACT takes pride in its proven innovative capabilities and continues to use its expertise to provide customers with high-quality solutions for their industries’ toughest challenges.”