Harvey Industries LLC, led by owner and President Jerome Harvey
President Jerome Harvey (left) of Harvey Industries LLC in Livonia talks with Mark Stevens vice president of sales and business development.
Harvey Industries LLC
Award category: $51 million to $100 million
President and owner: Jerome Harvey
In 2000, Jerome Harvey, president and owner of Livonia-based Harvey Industries LLC, wrote a new business plan for his aluminum machining company, founded in 1981.
In order to be a force in the metal casting industry, Harvey
concluded that his
business needed to be worth more than $50 million and vertically integrated, going from raw material to finished goods.
In July 2007, Harvey
first aluminum foundry, in Wabash, Ind., from Northville-based global automotive supplier Hayes Lemmerz International Inc.
business had revenue of $105 million for 2010, and Harvey projects revenue of $115 million for 2011.
The company has 800 employees and a customer base that includes the Detroit 3, Tesla Motors Inc.
and Modine Manufacturing Co.
"Foundries in years gone past have been very focused on producing a casting and leaving someone else to produce it and market it," Harvey
"The market has changed.
I would like to think we're a supplier that the customer is looking for today, a one-stop shop."
bought another foundry, in Nuevo Laredo, Mexico, from Hayes Lemmerz
Owning the foundries allows Harvey
to control the quality of his
products and gives him an advantage in delivery speed, he
"As an entrepreneur, I get to control all of the processes," he
"There's no fussing back and forth.
Being able to respond quickly to customer needs, there's no doubt that that has helped us and been a substantial part of our growth."
Harvey's latest acquisition was a high-pressure die-cast plant in Aiken, S.C., that he
purchased in February as part of a diversification strategy to insulate his
company against the ups and downs of the automotive industry.
"I wanted to differentiate the company from the 1,000 aluminum guys out there," he
"The Aiken, S.C., facility is 85 percent nonautomotive, with a concentration in lawn and garden and appliances and lighting.
That customer base is very wide and diversified."
was able to finance the foundry acquisitions with his
own money plus some outside financing.
largely credits being at the right place at the right time for his
"We took such a beating over the last four years in the marketplace," he
"I have high expectations for all my suppliers, and Harvey
meets those expectations."