OTP Industrial Solutions President and CEO Phil Derrow Featured in “Smart Business” Magazine

smart-businessPhil Derrow, the President and CEO of OTP Industrial Solutions is featured in the December 2011 “Smart Business Columbus”, both on the cover and in the feature article by Dennis Seeds “Keeping the Faith: How Phil Derrow Invested During the Recession to Set Ohio Transmission Up for Growth.”. The article explains how Derrow used his belief that the recession would bottom out and that the future would improve to take action and put the company back on the growth track.
In the piece, Derrow was quoted as saying, “Continuously invest in yourselves and your company.  I make a big deal about the fact that investment is a continuous and ongoing process, and it is an essential statement of a belief in the future. If you believe based on knowledge that recessions always end, then you continue to invest. It’s no more complicated than that.”
Along with rebranding Ohio Transmission and Pump Co. into OTP Industrial Solutions, creating a new logo and website and investing in employees and a new factory for Air Technologies, Derrow focused on the human factor– managing during a recession.
“We have 360 people now, and you can’t manage through such a challenging period without engaging the people in the organization.  We believe in being open and honest with our people and telling them what’s going on, telling them the company’s position, telling them our strategy and making them part of the process from start to finish.” Derrow explained.
What was the result? The annual revenue for 2011 will finish more than 60% above that of 2008, market share has grown and the company has increased employment by 10% during the same period– 380 associates across eight states.