Hudson, NH, Sept. 9, 2011 (GLOBE NEWSWIRE) -- NorAm International Partners, Inc. was recognized by Inc. Magazine as the 317th out of 500 fastest growing companies in the US, the second time the company has been featured in the top 10% with last year's placement of 197th.
Sales for NorAm grew from $12.8M to $50.6 in 2010, and over the three year period evaluated by Inc. (2008-2010), by over 1000%. "2010 represented a turning point for NorAm. We expanded our reach into the reverse logistics space, becoming a leader in the direct to consumer sales of media products, consumer electronics, and our ever expanding offerings of other consumer categories," says Michael DuGally, CEO and Founder. "Being a vertically integrated third party logistics provider, combined with a focus on lean manufacturing in all aspects of our operations, NorAm is able to offer best in class services to our retail partners. More importantly, we consistently deliver to consumers the lowest cost access to quality used, refurbished and overstock products," continues DuGally.
NorAm expanded US operations in 2010 to over 100,000 sq ft, creating 100+ jobs in Hudson, New Hampshire. The company also opened its first European subsidiary in 2010, NorAm Partners, Ltd. in the United Kingdom. Expansion into Germany and France in 2011, combined with continued growth in the US has put the company on track to do over $110M in 2011. "While we certainly are cautious about planning for expansion, in the near term we see significant upward momentum in the secondary trade-in, wholesale, and overstock space. For us the key is reducing the number of layers and touches in product disposition, and delivering these savings to consumers," according to Kellie DuGally, President and Co-Founder.
About NorAm International Parnters, Inc. - Based in Hudson, NH, the company has 270 employees domestically, and 25 internationally through its EU subsidiaries, NorAm Partners, Ltd. (UK) and NorAm Trade Services GmbH (Germany). Founded in 2006, NorAm is one the largest ecommerce based direct to consumer wholesalers, with distribution exclusively through established Internet retailers such as Amazon.com, Amazon.co.uk, Amazon.de, and Ebay.com. NorAm provides comprehensive third party logistics to retail partners, including management of consumer goods trade-in programs, consumer electronics refurbishing services and media disc repair services. The company processes 40,000-60,000 units per day, with domestic capacity of over 100,000 units daily across all product categories.