*****MUST READ*****a compilation of information provided ***
EDII has five divisions under it's management; industrial, financial, oil and gas, real estate and entertainment. Below is a summary of ONE of their divisions......the industrial division.....there are two companies which comprise this division...Pitts & Spitts and Har-Whit.
Pitts & Spitts has been in business for 20 years. They market a fine line of heavy metal BBQ grills and related accessories for the Bar-B-Que connoisseurs. These accessories range from gloves to pre-cut speciality woods. Their products are considered by many to be superior in quality and are sold all over the world. In 1997 the Tabassco summer cookoff contest offered a Pitts & Spitts Ultimate Pitt as the first prize for their contest. Also the best BBQ cookbook titled Smoke & Spice lists Pitts & Spitts products as the top of the line in BBQ'ing. I also found that BBQ lovers have their own internet forum called The Bar B Q Connection Forum, and just doing a little browsing I found that P&S were mentioned quite often. Even found some guy from England trying to get P&S's phone #.
Their top of the line product is called The Pitts & Spitts Ultimate Bar-B-Que Pitt which retails for over $1,700. This particular grill is considered to be an elite, top of the line product in the industry. The company is unable to keep up with the demand of this and some of their other models. There is also a big demand for their gas and propane Fajita & Steak Grills, Smokers, and Bar-B-Que Combo Pits. In fact, it is reported that some of their models are in such high demand they are on back order for months, yet the orders keep coming in. In general, some people are willing to wait for quality products.
On March 23, 1998 they received a $750,000 line of credit to expand their manufacturing plant. And it has been reported by a poster that the expansion is in fact underway. The expansion will hopefully allow them to keep up with the demand for their products.
Har-Witt has been in business for 26 years. The company manufactures parts and provides special services, primarily to the oil and gas drilling industry. They have a sterling reputation in the industry for making quality parts. And with the expansion of their facility (they share the same premises with Pitts & Spitts), they are geared to take advantage in the raise in oil prices, which will create a higher demand for industry related parts. Initially, Har-Whit was involved in petroleum exploitation and with the decline of the industry, they turned their energy into producing parts for existing machinery used in the petroleum industry, and have been successful with this transition. Instead of continuing in the exploitation division of the petroleum industry the company chose to diversify and redirect their talents and experiences in the petroleum industry to an area in need. It has not been reported by any one on this thread whether or not Har-Whit would return to exploitation with the rise in the price of oil. They would certainly have the experience to do so if they felt it was in the economical best interest of the company. They may be satisfied with the niche they carved out for themselves as suppliers of parts, less risks and potentially greater rewards on a continuous basis.
Pitts & Spitts and Har-Whit,Inc. are both located in the same manufacturing plant in Houston. At Pitts and Spitts, orders are back logged a full four months and they are planning a major expansion to try to catch up. First they have ordered $585,000 in new equipment that should increase production and possibly reduce associated labor costs. After the expansion, they will increase their dealer network from 4 to as many as they can supply. Once this is accomplished, both revenues and net income should rise dramatically.
There are currently 38 people on the payroll, this number is expected to rise in conjunction with the expansion of the plant. They are in the process of expanding the 70,000 square foot building they own. In addition to owning the plant, it is reported that they also own the property. They are currently geared up to do $3,000,000 in annual sales and produce a net income of $300,000.
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