DMP breaks ground
SPRINGFIELD, Mo.--Digital Monitoring Products' officials credit the improved sales and marketing of its IP-ready control panels for a recent increase in demand and the subsequent decision to expand its headquarters here.
DMP is halfway through an expansion project--expected to be complete in November--that will expand the facility by 40 percent and enable DMP to increase production, new product development and customer service operations.
"We will expand our warehouse and automate much of our material handling, allowing us to dramatically increase our productivity output while maintaining the same quality," said David Peebles, vice president of manufacturing at the company.
Network ATM security in the banking industry and centralized networked security for multiple retail chain store outlets are a focus of DMP's business.
While the privately held company does not release revenue figures, Gary Kallman, vice president of sales and marketing, said new contracts and employment statistics are further evidence of increased growth at the 30-year-old company.
"Sales over the last year grew by 38 percent," he said. In addition, at a time when other companies are outsourcing work, the number of DMP employees has grown to 140 over the last three years, a 75 percent increase.
A number of firms compete in this segment of the market. Companies such as Bosch and Honeywell offer IP-ready control panels.
"There's clearly a trend in the industry toward IP technology. Everyone wants to be on the web," said industry analyst Joseph Freeman, principal at J.P. Freeman Co.
Positive sales led the company to expand into the Canadian market. Kallman confirmed July 15 that DMP inked a deal with Royal Bank of Canada, one of the largest financial institutions in the country.