Winner, Manufacturing
When Sheila Kaye Rossmann purchased Paramount Precision Products Inc. with her four former partners in 1999, the company was in financial duress, operating with a split focus and in need of a clear vision. Since taking full ownership of the business, Rossmann has never been deterred but met these challenges to grow the manufacturing company with a simple vision and the leadership motto of “relentless pursuit of the next level.” As CEO of Paramount, Rossmann focuses her team on the ultimate goal of being a go-to company that can “machine anything” for customers. But to achieve this goal, she’s had to find ways to support the critical business operations needed to meet the demands of customers.
By seeking out critical funding through capital and bank loans, Rossmann has ensured that Paramount is able to operate at full capacity around the clock. The ability to remain dependable during the economic recession — a period with rampant factory closings and labor shortages — has been critical in growing Paramount’s reputation as a business committed to customer service and support. This reputation, in turn, has helped the business increase customer retention and secure in new contracts for long-term success.
Although Paramount operates locally in Metro Detroit, several major customers have approached Rossmann about expanding operations to meet increasing demand. But even as she negotiates this next stage of external growth — moving production to a national and international level — Rossmann continues to cultivate growth internally through innovation. She encourages her growing staff to embrace risks when it comes to helping customers, whether it’s taking on difficult projects or customer challenges that other companies might cast off.
HOW TO REACH: Paramount Precision Products Inc., www.paramountprecisionproducts.com
