Mursix Marks Quarter-Century
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowYorktown-based Mursix Corp. is marking its 25th anniversary. The manufacturer was founded in 1990 with around 30 employees and $2 million in annual sales. The company says it now has more than 300 workers and generates around $35 million in yearly sales.
March 15, 2015
News Release
Yorktown, Ind. — March 16, 2015 marks the 25th anniversary of the incorporation of Mursix Corporation. On that date in 1990, Steve and Irene Murray “rolled the dice” and invested their life savings into the purchase of Twoson Tool Company. Mursix (named for the six members of the Murray family) was formed to purchase the assets of Twoson Tool (located on Bethel Avenue in Muncie) and Twoson ESP in Matthews. At that time, Twoson had 28 employees in its plant on Bethel Avenue, with about $2 million in annual sales. Today, Mursix employs over 300 employees in our current facility, generating about $35 million in sales each year. The Murray family is proud to have invested more than $40 million into growing the business and is equally proud to have invested more than $400,000 in the Delaware County community in the way of donations to a wide variety of charitable, educational, and community revitalization efforts.
Less than two years after Steve and Irene had committed every cent of their family's assets (including re-mortgaging their house) to establish the company, they were faced with a payroll that simply could not be met with company funds. Steve wrote a check for the last $1,500 in his personal checking account. The payroll was met. The company survived. It was but one of the first demonstrations that personal sacrifice and commitment would be the norm for the company.
In 1999, a recession in Mursix's primary markets left the company facing what looked like an insurmountable 65% reduction in sales. Rather than accepting this, Mursix invested what amounted to three years of company profits to expand its capabilities from simple multi-slide stamping to include more sophisticated punch press stamping, which allowed it to aggressively pursue new accounts. Within 2 years, sales had hit a new high.
In 2004, the company's largest automotive customer (Delphi Corp.) filed for bankruptcy. As they moved through restructuring, many of their suppliers “jumped ship.” Despite the fact that it was costing Mursix financially, they approached this customer and committed that Mursix would support them throughout restructuring. Since that time, this customer has regained significant financial stability. And, largely because of this “strategy of support,” they have made Mursix a Preferred Supplier and have awarded business that, in the past, might have been awarded to competitors.
Over the course of 25 years, Mursix has been recognized with numerous quality awards from almost all of our automotive and appliance industry customers, including Emerson, General Motors, Nexteer, Delphi, and many others. The Indiana Economic Development Corporation named Mursix an “Indiana Company to Watch” (one of an inaugural class of 50 companies that were chosen from more than 420 nominated companies) in 2008, and then in 2010 chose Mursix as one of the 5 inaugural Spotlight Award winners to celebrate the company's “ongoing growth and success.” In October of 2011, the Muncie-Delaware County Chamber of Commerce awarded Mursix its coveted Community Impact Award. In June of 2014, Mursix was honored as one of three inaugural Touchstone Award winners by Conexus Indiana for its hands-on contributions to Indiana's innovative Hire Technology high school advanced manufacturing and logistics curriculum.
Source: Mursix Corp.