For 50 years, AMI, formerly Wilshire Foam Products, was a foam fabricator that manufactured die-cut foam parts for industrial markets. In recent years, a large percentage of revenue was from the sale of computer parts to one huge, international customer. When this customer began outsourcing their products to Asia, our sales and profit margins fell rapidly.
In the fall of 2003, new management was brought in to improve the performance of the company. In the fall of 2005, William Mortensen, the current CFO of AMI, was appointed President/CFO after the former president resigned. Leading the way, he, and the highly experienced staff of AMI, have reinvented the company. Its success is no longer dependent on the computer market. In fact, now over seventy percent of sales are medical products.
AMI, historically, has manufactured products to customer specifications. The "new" AMI will continue to serve in this way, but will increase shareholder value by developing and selling proprietary and patented products, as well. Differentiation and innovation are the keys to success in the new global marketplace. Watch our website for announcements about the new products and strategic partnerships.
"People. Partners. Patents. Profits." is not just a slogan. "The Power of 4" is what we are all about. Whether you are an employee, a shareholder, or a customer -- get in, sit down, and hang on!
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