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we maintain roughly $ 20 million worth of inventory across our network . While over 80 percent of this inventory is specifically allocated and sold to a single unique customer for each item , this does not mean that one customer accounts for 80 percent of our total product sales . Rather , it highlights our commitment to providing customized solutions to individual customers , ensuring their specific needs are met with precision . This approach differentiates us from traditional distributors who typically serve multiple customers with a broader range of products they already have in stock ,” Brad elaborates .
Empowered for growth
Moving onto the recent rebranding to XMEK , Brad reveals that this strategic decision was made to allow separation from previous ownership and to facilitate the transition to a matrix leadership model . “ Historically , our company has deep roots within Eriks , a Belgium-based company established in the 1940s . Eriks expanded its presence in North America in the 1980s , and we were one of four companies that operated under the corporation ’ s umbrella in the continent for a significant period , until the 1st of April 2022 . At that time , Eriks divested its North American business , leading us to transition away from the Eriks name within 18 months . Hence , we had to choose a different trading name and officially rebranded on the 1st of March 2024 as XMEK , which symbolizes excellence in mechanical components . While we wanted to honor our heritage and the recognition Eriks brought us in the marketplace , being a subsidiary of the European company provided us with limited autonomy and individual attention throughout the years . However , our new owners acknowledge us as a standalone company , empowering us with resources , capital , and the freedom to create our own path for business growth , which is great ,” he explains .
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