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Greenpoint Technologies could argue that every year is its year, and the same goes for 2012. That argument, however, isn’t based on what’s to come but on the groundwork that has already been laid. Year after year, this completion center makes strategic investments aimed at hitting long-term goals. In 2011 and heading into 2012, the company reached and positions itself to reach many of its targets, some that were established more than four years ago.
“Financial companies are purchasing completion centers and they don’t understand the industry,” Executive Vice President Sloan Benson explains. “They just see the potential profit and strive to scale up production while undercutting the competition; the result is a deep backlog of low margin projects and unhappy customers. When it comes to delivering, they struggle. It’s a unique competitive advantage of Greenpoint, in that we are privately held and don’t have to satisfy unrealistic quotas. We can invest back into the company, do the right things, for example, pursue projects centered in our core competencies, to ensure we keep delivering a quality product on time.”
The 24-year-old company provides turnkey VIP aircraft interiors for wealthy individuals and heads of state, as well as government and military clients. From design and engineering to manufacturing and installation, Greenpoint takes a blank canvas and tailors it to each individual customer’s needs. Throughout its history, the company has developed skills, organically and through acquisition, that give it the ability to accomplish complex projects while controlling the risks.
“We used to use sources outside of the company for many of the capabilities we have in-house today,” explains Benson, who has been with the company for 23 years. “Outsourcing often proved problematic for us. One of the first things we decided to bring in-house was engineering.”
Because completions are largely prototypes (each aircraft being unique), Greenpoint often needs components and testing done for unique items, while meeting strict regulatory requirements and deadlines.
“Our requirements are very sporadic,” Vice President of Operations Adrian Osborn explains. “We deal with many one-off parts. It makes it quite tough for our supply chain to get the unique parts and services we need to remain competitive from a cost and schedule standpoint. Therefore, owning certain parts of the supply chain gives us the ability to deliver on time with the quality that keeps our customers coming back. It’s a risk mitigation strategy.” To support this approach, in May 2011, Greenpoint purchased TR Enterprises, a machine manufacturing facility, and Odyssey Aerospace Components, a VIP cabinetry manufacturer, collocated in Denton, Texas.
Greenpoint continuously adds to its skill set, and today boasts the following capabilities: interior design, 3-D visualization, program management, engineering, engineering test laboratory, certification, supply chain management, customized cabinetry, general manufacturing, precision machining, installation and post-delivery support. Recently, Greenpoint and Odyssey formed a partnering agreement with Jet Works Air Center to offer Boeing Business Jet (BBJ) refurbishments. Odyssey’s team will fabricate and update interiors while Jet Works provides the installation and aircraft maintenance at their facility.
Last year, other strategic investments and business relationships launched the company into more new services.
In September 2011, it introduced Greenpoint Aerospace Co., dedicated to serving government and military clients and other special projects. “Our goal is to better serve all of our customers,” President and CEO Scott Goodey said in a statement. “Creating a company division focused on this specialized sector provides an efficient and sensible solution.”
Greenpoint Aerospace provides interior modifications for government and military aircraft by working with key defense and government contractors and OEMs.
Greenpoint provides interior solutions for a variety of aircraft models; particularly through its Denton Division, Odyssey. Also, being one of only 15 approved BBJ Completion Centers worldwide, Greenpoint has maintained a close working relationship with The Boeing Company. Both companies have facilities in the Seattle area, and Greenpoint recently developed two interior products for the newest Boeing 747-8 aircraft: the Aeroloft™ and the Aerolift™.
To accommodate more living space in the crown of the aircraft, Boeing relocated electrical systems and ducting in the crown or ceiling of the plane, enabling this area as usable living space. This unique product provides living space almost equaling the size of a B737 aircraft in the upper crown of the B747-8. Greenpoint is capitalizing on the customer trend for more space with patent-pending products. “These two product-based offerings are largely standard rather than a specialized and custom solution,” Osborn explains. “It’s a completely new offering from us, which has already been purchased by VIP customers. Greenpoint Products and Services, our Marysville, Wash., facility, manufacture these products.”
The Aeroloft™ includes private sleeping berths located above the main deck in the aft section of the Boeing 747-8. It installs with custom designed interior furnishings and a forward entry staircase. The Aerolift™ is also a patent-pending Greenpoint product. The four-passenger and wheelchair-accessible Aerolift™ securely transports passengers in a bullet-resistant carriage from the ground into the airplane’s main deck.
“Four years ago, Greenpoint set its aim on a 747-8 completion with strategic company investments and an organizational restructure,” Benson said. “We have never had a more capable team of professionals and experts. The time we’ve spent with The Boeing Company understanding the unique qualities of the 747-8 related to our Aeroloft™ development have enabled an advantageous project launch.”
Greenpoint’s investments in 2011 have proven fruitful in 2012. Acquisitions, product unveilings and new company launches have made it a busy and a profitable time for Greenpoint. Just as Greenpoint invests in areas that make it successful, it invests in the people who make it successful as well. Last February, the Pacific Northwest Aerospace Alliance named Greenpoint the Aerospace Company of the Year. Last June, Seattle Business Magazine named it one of Washington’s 100 Best Companies to Work For in 2011.
Benson and Osborn describe Greenpoint’s culture as a mix between work and play. For example, the company hosts an annual mini-golf tournament, additionally employees are known to perform skits that teach company values. On the other side, Greenpoint helps with professional development through training and schooling. Benson herself received her MBA in 2006 with Greenpoint’s financial backing.
“We encourage our team to have fun,” Osborn says. “It’s OK for people to enjoy themselves; it’s even a corporate value. On the other hand, we also challenge each other, and the standards and expectations are high. It’s a good balance and, I believe, one of the reasons the company is successful.”