'We built it' frames 50-year mark for equipment firm

If you noticed a banner rippling along Interstate 75 south of Tampa bearing the proclamation “We Built It,” that was the proud statement of Ring Power Corp. The heavy equipment dealer chose the banners to celebrate its 50th anniversary while publicizing its response to comments made during the presidential election.

“We tied it in with the theme that our corporation was built with a lot of hard work on the part of our employees,” says Randy Ringhaver, owner, chairman and president of Ring Power, which distributes Caterpillar equipment. Based in St. Augustine, the company has branches throughout Florida, and large regional facilities in Tampa and Orlando.

The company determined that one way to celebrate its half-century milestone was to put up the banner. “The sign depicts servicemen from generations ago,” who helped build the company, Ringhaver says.

Although proud of its history, the firm's celebration is somewhat tempered by the recession. From a high of 2,500 employees, Ringhaver saw the number sink to 1,400 before bouncing back slightly to 1,700 current employees.

“It's been hard to keep moving ahead and making some of the expenditures we used to make,” he says. “We aren't nearly as profitable as before. We don't foresee any growth at all in 2013.”

Demand for the Caterpillar machines, including engines and generators, hasn't recovered to the levels of early 2008, he notes.

Ringhaver says he's still waiting for the heavy equipment market to strengthen. “We'll just have to see how the fiscal cliff evolves.”