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President and Chief Executive Officer
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3111 Old Lincoln Hwy
Feasterville Trevose, Pennsylvania,19053
A manufacturer of a wide range of products for the telecommunications, power utility and cable television industries, and the contractors who serve them.... more.
News at GMP - Release #5890
Present at GMP's exhibit were Bill Pfundt, President of GMP, Alex Pfundt (Bill's son), Gustavo Padron, GMP's Marketing Manager for Latin America, along with members of ELECTELCO, GMP's manufacturers representative in Mexico.
News at GMP - Release #5574
"Because Gus Padron brings with him such an impressive and relevant understanding of the telecommunications needs of Latin America, he will play an integral role in GMP's continued market presence there," said William Pfundt, President, General Machine Products Co., Inc.
Lone Oak Medical - Russell-Risko Agency Case Study
- Mr. William Pfundt - President, General Machine Products Company
Client Testimonials - Russell-Risko Agency
Mr. William Pfundt, President
General Machine Products Company
"People think manufacturing is over and done with in the United States, that all of the jobs have been 'offshored,' " said William Pfundt, president and CEO of General Machine Products Co. in Bensalem.
Pfundt is a third-generation owner of General Machine Products, which manufactures tools for the telecommunications, power utility and cable television industries. Those steps could help the industry, Tyler and Pfundt said, but they are far from the only answers. At General Machine Products, growth has been slow over the past few years, Pfundt said, because the company was hit hard in the early days of the economic downturn in 2008. While it didn't lay off employees, it did offer early retirement plans to some workers. It now has 85 workers in the U.S. To grow, the company has looked overseas - not for workers, but for sales, Pfundt said. GMP sells products in China and other countries, which has helped increase business, he said. Pfundt said he's concerned about the nation's tax structure, where owners of small companies like his pay taxes on the company's profits through their personal income tax filings. "We're profitable here, but when we started hearing that 'everybody's got to pay their share,' and the top tax bracket needs to be raised ... I don't hear anybody making a distinction between an individual's paycheck and their profits from the business," he said. "That means there's less retained earnings for the corporation. That's money we would reinvest in capital equipment, or to hire more people." Pfundt and Tyler also said the cost of manufacturing in the U.S. needs to be addressed. "It is expensive to manufacture in this country," Pfundt said. "The general rule of thumb is it's about 20 percent more expensive, for many reasons: tax structure, energy costs, insurance. All of those factors need to be looked at holistically in order to make the environment more conducive to manufacturers to stay here and to grow here and thrive here. Which we are, but it's a battle. All of those factors are concerns of people who run manufacturing businesses." Still, Pfundt is happy to see manufacturing on the national stage. "I'm glad to have the opportunity to talk about it," he said.