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This is Fred Ball for Zions Bank, speaking on business.
Today we continue our series focusing on Utah companies that are successfully weathering the recession because they've diversified overseas. One of the most successful mountain sports equipment makers in the world is Utah's own Black Diamond Equipment Limited. Company owner Peter Metcalf is living proof that with vision, hard work and innovation, a bankrupt company can rise to become the standard in its industry.
In the late 1980s, a small climbing and ski equipment company went into bankruptcy. Peter came to work for the company in 1982. With a background as a climber and mountaineer, Peter understood the marketplace, so he created and led a small team that bought the company. He believed it was time for an American-based company to take the lead in an industry long dominated by European companies. Peter recruited many of the company's employees to join his business venture and launched Black Diamond in 1989.
Today, the company is the global leader in the design, manufacture and distribution of climbing, mountaineering and free ride ski equipment. Black Diamond's products are sold through retailers in North America, Europe and Asia. Last September, the company launched a line of unique and innovative ski boots that have been popular sellers.
Black Diamond's product designs have changed outdoor sports by setting high standards. Peter tells me his is the only company in the outdoor industry to have designed a piece of equipment so original that its two years of research and development resulted in a lead article in the Journal of the American Medical Association. Black Diamond was recently featured in Outside magazine, the No. 1 outdoor magazine in the U.S.
In order to remain competitive in the market, Peter is constantly looking for ways to re-think the way the company operates and exploring new international opportunities. He says the key is to be bold without being foolish, and take thoughtful and calculated risks. He stays focused on one set of consumers while thinking globally.
For Zions Bank, I'm Fred Ball. I'm speaking on business.
Black Diamond Equipment, Ltd. 2092 E. 3900 South Holladay, UT 84124 801-278-0233 www.bdel.com
