April 25, 2007 Dear Customers, Vendors and Friends, The owners of Gear Tech Inc. actually operate two distinct businesses, one in Longview WA (Gear Tech Inc.) and a field service company (Gear Tech Mechanical LLC). In January 2007, a major customer (Port Townsend Paper Co) of Gear Tech Mechanical filed for chapter 11-bankruptcy protection. After years of faithful, quality service to PTPC, we may not get paid for the last major shutdown that we worked. Why does this affect Gear Tech Inc.? As stated previously, the owners have two businesses. With Gear Tech Mechanical’s receivables in question and the lenders still requiring payment, there seemed to be two solutions. Either sell the shop building in Longview, or the shop building and home in Rainier Oregon. The owners have opted for selling the building in Longview, as this will solve all foreseeable problems, while allowing us to continue serving our customers. This also includes maintaining the solvency of Gear Tech Mechanical, LLC. Gear Tech Mechanical, LLC shall continue to operate as it has and should only be helped by this move. For Gear Tech Inc., the machine shop, this means moving certain machines back to the Rainier building. From there Gear Tech Inc. will continue to provide quality machining and gear cutting. The next month will be a time of transition. For our customers, some changes in capacity and convenience may occur. We ask for your understanding and continued trust. We ask that you communicate with us and let us know how to help you and continue serving you. For our vendors, changes in delivery options will occur. We thank you in advance for your good service and understanding. Gear Tech Inc. is planning on making the move to the new (old) location the first and second weekends of May. This should minimize the changes in delivery schedules. As some of you may have noticed, we are temporarily adding extra time to our delivery estimates. Please know that this decision is also about continuing to serve our customers. Continuing to manufacture quality parts for you at a reasonable rate is our goal. Please note our new contact information starting May 7th, 2007: 74761 Townsend Rd Phone: 503.556.1278 PO Box 786 Fax: 503.556.1289 Rainier, OR 97048 E-mail: doug@geartechindustrial.com www.geartechindustrial.com |
