Tooling up to supply solar, wind power, and other clean industries could revive strong, long-term growth, even in an economic slowdown
As a maker of conveyor systems for manufacturers, Shuttleworth always changed with the times. The 100-employee Huntington (Ind.) company's strong business in electronics dropped off about five years ago as more production moved overseas. After that, the company focused on conveyors for food, health care, automotive, and paper products—until this year, when it entered what could be its most profitable niche yet: solar panels.
"It's got some of the biggest potential of the markets we've been in," says Jim Bonahoom, Shuttleworth's vice-president for finance. Even though Shuttleworth only just entered the market, the company expects solar to account for one-fifth of its roughly $20 million in revenue this year, Bonahoom says.
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