Chroma Celebrates 20th Anniversary with a New Office in China and a Higher Ranking on Inc. Magazine's 500/5000 List
Thursday, August 25, 2011
On its 20th anniversary, employee-owned Chroma Technology in Bellows Falls has a lot to celebrate.
The company, which manufactures optical microscope filters and coatings for laboratories all over the world, recently opened a sales office in Xiamen, China. And for the third consecutive year, it has been honored by Inc. Magazine, which released its prestigious Inc. 500/5000 - a list of the nation's fastest-growing private businesses - on August. 23.
This year marks a rise of 834 positions on the list for Chroma, which was honored for an impressive 27 percent three-year growth and 2010 revenues of $24.2 million. The company employs 95 people.
"This means we had a great year last year," said CEO Paul Millman. "And more importantly, it means we are once again recognized by the greater business community outside of Vermont. As much as I love the recognition we receive in Vermont, there is something very special about being recognized by the larger U.S. business community."
All of Chroma's manufacturing is done in Vermont, and it has long exported much of what it produces here. The new office in China, which joins offices in Europe and North America, represents a logical next step in the company's growth.
"China is investing billions of dollars in biomedical and biotechnical research and development," Millman said. "We seek to have the kind of close-up and personal relationship with Chinese engineers and scientists that we have with their counterparts in the U.S. and Europe. Only a Chroma presence in China will make this happen."
The complete list of the Inc. 5000, including company profiles, can be found at http://www.inc.com/inc5000/list/2011.
Other Vermont companies on the list this year include King Arthur Flour, Resource Systems Group, MBA Healthgroup, CPA Site Solutions, Fuse and Global Sourcing Group. Chroma is the only manufacturer from Vermont on the list.
"The most important highlight of our 20 years is that an employee-owned company in a small state became a very important supplier to some of the most important manufacturing companies of the world," Millman said. "I can't think of a higher light than that.