For Immediate Release
Contact: Julie Fedorchak
Kringstand Ironworks Receives Rooting for Success Award
PARK RIVER, ND - Lt. Gov. Jack Dalrymple and North Dakota Commerce Commissioner Shane Goettle presented Kringstad Ironworks with the state’s first “Rooting for Success” award at a tree planting ceremony at the business’s site in Park River today.
“Rooting for Success” is a new program that recognizes companies that actively seek out expertise beyond their organization to improve their company’s growth potential and create a brighter future in North Dakota. It is sponsored by the North Dakota Department of Commerce and the Small Business Development Centers.
“Rooting for Success visually acknowledges our belief in the staff at Kringstad Ironworks and their ability to grow in North Dakota,” Dalrymple said. “The cooperation and diligence this company has displayed is a valuable model for those working in economic development in our state.”
Bernie Kringstad began custom fabricating solutions for farming and manufacturing clients 10 years ago in Hoople, N.D. Soon, he needed an 11-person crew to construct catwalks, drone launchers, refrigerated culverts, hitches and the customized repairs clients requested. The company gained a reputation for quality work delivered on time. Within two years, Kringstad Ironworks grew to more than 45 employees manufacturing products for companies throughout the world.
Realizing he needed technical expertise and funding to fulfill demand, Kringstad sought business advice and financing from local banks, public and private organizations, and state programs designed to foster expansion. In 2006, Kringstad Ironworks transformed a failed mushroom plant in Park River into the birthplace of custom-designed products used by a variety of the state’s largest agricultural firms.
More than 16 partners have aided the iron-working company in planning, capital infusion, negotiations, streamlining costs and closing deals. As a result, the company more than doubled sales between 2005 and 2006 and projects similar growth for 2007. Customers include the U.S. Army, American Crystal Sugar and LM Glasfiber.
The tenacity, flexibility and creativity Bernie and his staff exercised to collaborate with such diverse groups is remarkable.
“Lasting economic development takes time and cooperation. Investments come with risk,” Goettle said. “Kringstad Ironworks has proven worthy of the capital and talent we can provide to foster their growth. Although nothing is guaranteed, investing in the ingenuity and hard work of North Dakotans is fundamental in growing the state’s economy.”
Guests attending the commemoration included representatives of American Crystal Sugar, LM Glasfiber, City of Park River, First United Bank, North Dakota Small Business Development Center, Small Business Administration, North Dakota Development Fund, North Dakota Department of Commerce - Division of Community Services, Red River Regional Council, Governor's Office, Bank of North Dakota, Job Service North Dakota, Dakota Manufacturers Extension Partnership, Walsh County Job Development Authority and Polar Communications.
For more information about Kringstad Ironworks, contact Bernie Kringstad at 701-284-6194 or e-mail [email protected].
The North Dakota Department of Commerce works to improve the state’s quality of life by leading efforts to attract, retain and expand wealth. Commerce serves businesses and communities statewide through committed people and partners who offer valuable programs and dynamic service.