Boat sales surge reaches marine components manufacturer

Company: Bradenton-based Veethree Electronics is part of the larger Veethree Group, an alliance of companies that also includes entities in India, the United Kingdom and New Zealand. Veethree acquired the assets of marine instruments manufacturer Teleflex in 2009 and kept on a good chunk of the personnel as the Manatee County facility transitioned to the Veethree Electronics brand.

Veethree Electronics has 85 employees at its 52,000-square-foot manufacturing and assembly plant. The privately held company doesn’t disclose revenue figures, but it’s currently experiencing annual sales growth between 40% and 60%, largely driven by strong boat sales over the last year. “I have not seen volumes of this nature since 2004-2005, right before the downturn,” says Bill Allen, plant manager for Veethree Electronics.