Local Business Thriving Despite Poor Economy
Lake County Journal
August 6, 2009
By Stephanie N. Lehman
WAUCONDA - Even as the economy has left countless businesses struggling to survive, there are some that have managed to fight their way to the top of their respective field.
Wauconda Fidelitone is one such business.
The supply chains solution company was selected as one of the leading third-party logistics providers for 2009 by Inbound Logistics magazine for the second year in a row.
"It's a global world, and without the best-in class supply chain solutions offered by leading companies such as Fidelitone Logistics, business logistics professionals going global would face enormous difficulties," said Felecia Stratton, editor of Inbound Logistics.
Fidelitone, which provides warehousing and transportation, distribution services, order management and outsourced accounting services, was one of the top 100 3PL providers selected from a field of 300 companies chosen by Inbound Logistics.
The local company celebrates its 80th anniversary, as well as its 18th year in Wauconda, this year.
It has managed to reinvent itself several times throughout its history - from making record needles to its handling logistics - which has led to its success, said Mike Schoenfeld, executive vice president of business development at the business.
"No. 1, I think we're pretty good at what we do," Schoenfeld said, "While I would tell you volumes are down here... we are probably having one of our record years because we are taking this downed economy to get better at what we do - a lot of improvement, time to fix stuff and taking time to invest in ourselves and look inward a little bit."
Though Fidelitone has 23 facilities nationwide - soon to be 24 - the company's headquarters are stationed in Wauconda, which translates into more than 300 jobs for local residents.
And those jobs look to be available for a while.
"I think it means we're becoming a real player in this industry," Schoenfeld said of Fidelitone's inclusion in lnbound Logistics top 100 list.
"If you look at the companies on that list... it wasn't too long ago that we weren't even in this business. If you wanted to look back and say, 'What companies have risen up that chart?' we're probably moving fastest on this list."