BANKS Industries is a manufacturing company located in Centervale. A US-based organization, BANKS’s major product line is electronics components. BANKS has just over two hundred employees at its main plant in Centervale but recently acquired a new subsidiary in China. This acquisition added close to one hundred employees, and their expertise in a new line of personal computing devices. BANKS expected these devices to give it a competitive advantage in its market, and with the product line continuing to grow.
BANKS started out as a family-owned organization with a relatively flat organizational structure. After fifteen years of being in business, BANKS continues to be family owned and has acquired several small companies in the United States. The acquisition of the Chinese company, which has now been renamed BANKS Components, is the first acquisition outside US borders. The transition has resulted in some drastic changes in policy, staffing, and the organizational structure.
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