Salem Awarded for Growth

WINSTON-SALEM, N.C. – Salem Distributing Co. has been recognized as one of the FAST 50 in the central North Carolina Triad area.
The Business Journal of the Greater Triad Area’s FAST 50 Awards program is the premier business-growth competition in the region. This year’s awards continue to honor the success of private businesses and their owners whose growth and contributions made a positive impact on the Triad’s economic success.
Only into the second year of 100-percent employee ownership, Salem made great strides in a corporate restructuring initiative, including the reinvention of its corporate culture to focus on nurturing, inspiring and challenging its employee-owners.
The bottom lines of this initiative were to better serve and grow its customer base. The results yielded an impressive 15-percent growth in the first half of 2006 compared to the first half of 2005 – a trend that should continue, said Salem CEO Howard Hanes.
Salem was founded in 1934 as the Siewer’s Sales Agency, and adopted its current name in 1972 following a change in ownership. Today, the company is comprised of four distinct business units: Salem Flat Glass, Salem Vision, Salem Advanced Surfacing Materials and Salem Stone.
An interesting observation, made by a number of financial analysts, was the age of Salem compared to the other recipients of the FAST 50 award. The balance of this elite group is relative upstarts when compared to the 34-year-old Salem; it’s unusual to see this kind of growth in such a mature company, the analysts noted, which speaks to the company’s leadership and the employee-owners’ commitment to success.