Business Focus

In 1977, Peerless Machinery Corp., then a 64-year-old business, strategically set out to define itself as the bakery equipment "Mixer Specialists." Soon customers throughout the baking industry recognized Peerless not only for the quality of its products, but also for our innovativeness in engineering, the reliability of our products, and the dependability of our service. Peerless, through the creativity of its employees and our responsiveness to our customers' needs, became the clear leader in dough mixing.

In 1987 we undertook a growth strategy of acquiring related businesses and product lines. Over time Royal, Fedco, SuperGrain, Lanham, Peters and Goodway all became part of the Peerless family of products. These acquisitions expanded our capabilities and offerings in dough mixing and dough makeup equipment, and in cookie and cracker machinery. It also gave us a leading position in Cake and Snack Food equipment.

By 2001, these new additions had evolved into three separate business units with Peerless as the parent company and Fedco and Peters each as wholly owned subsidiaries.

The newest phase of our corporate development is the consolidation and integration of all three business units into a single company known as "Peerless Machinery Corp.." The physical aspects of the consolidation were completed in mid-2003. We are now positioned to continue to grow in our service to our grain-based food producing customer base.

Peerless' people, our corporate culture and our commitment to our customers are most important assets. Just as our employees' creativity and responsiveness to customers' needs was the key to our early success, it is even more important today. Just as we built our reputation on the innovativeness of our engineering, the reliability of our products, and the dependability of our service, it is imperative that we continue that tradition today. It is "The Spirit of Excellence" that our customers around the world have come to rely on.

Peerless Machinery Corp. is a food equipment company. Our focus will remain in this arena where our expertise, including our ability to serve customers, exists.

We will continue to serve customers around the world and will build on our international reputation for creating value for customers. Our product innovations and technological applications will continue to be developed in response to customer need - and we will execute the delivery of those solutions through our unique expertise in engineering and manufacturing.

We want to grow our sales but only in areas where we can earn a fair profit. We recognize that to do so requires that we always delivery more than a customer expects.

Our customer's needs deserve to be analyzed and equipment created to meet those needs. He deserves to receive what he pays for, when he expects to receive it, and without defects. We must constantly seek ways to improve our products and the systems and procedures we employ to delivery them. We must continue to reinvest in the growth of the business using our financial capital for optimal return. We will always conduct our business ethically, with the highest respect for each other and those with whom we do business. We will be exemplary citizens, both individually and corporately, giving back to our community whenever possible.