Springfield ReManufacturing

Springfield ReManufacturing Corp (SRC) is an American equipment company based in Springfield, Missouri.

Springfield ReManufacturing Corporation
Founded1983
FounderJack Stack and managers from International Harvester
Headquarters
Springfield, MO
,
United States
Number of locations
Springfield, MO, Monett, Missouri, Lexington, KY, Joliet, IL
ProductsRemanufactured equipment for Ag, Automotive, Construction, Mining, Oil & Gas, Trucking industries; Industrial Power Units
ServicesLogistics, Remanufacturing, Trucking
Revenue$400 million[1]
Number of employees
1,600[2]
ParentSRC Holdings
Websitehttp://www.srcreman.com

History

SRC was established in 1983 when 13 employees of International Harvester purchased a part of that company that rebuilt truck engines,[3] with $100,000 of their own money and $8.9 million in loans, with the goal of saving 119 jobs.[4] By 1988, SRC's debt to equity ratio was down to 1.8 to 1, and the business had a value of $43 million. The stock price, $0.10 in 1983, had increased to $13 per share.[5] By 2015, the stock was worth over $199 per share.[6]

SRC founded and invested in more than 60 separate companies that do everything from consulting to packaging to building high-performance engines. Including current joint-ventures SRC's sales are over $1B, with more than 1,600 employees, and has 1.7 million square feet of Manufacturing and Warehousing Space.[1][2]

Books

President and CEO Jack Stack has written two books (with Bo Burlingham), The Great Game of Business and A Stake in the Outcome, detailing the business and management techniques practiced and promoted by the company. The Great Game of Business has had 25 printings and sold over 350,000 copies in 14 languages.

Further reading
  • Stack, Jack and Bo Burlingham (2002). A Stake in the Outcome, Random House, Inc.
  • Stack, Jack with Bo Burlingham (1992, 2013). The Great Game of Business, Crown Business, a Division of Random House, Inc

References
  1. http://www.ggob.com/
  2. "We are SRC". Youtube. September 25, 2015.
  3. Laird Harrison (April 8, 2002). "We're All the Boss". Time Magazine.
  4. "The Great Game of Business Story - Short". Youtube. March 17, 2015.
  5. Steve Strauss (April 19, 2004). "Ask an Expert: Give employees a stake in your business". USA Today.
  6. "Our Story". Company website.


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