Shuster Corporation, provider of bearings and power transmission products, and a division of Motion Industries, is celebrating its 100th anniversary – a rare event in today's industry climate. Shuster is based in New Bedford, MA.
Michael Pelehach, president of Shuster Corporation, offered some insight into the company's longevity. "Not many companies can celebrate having been in business for 100 years," he said. "When you analyze what it is that has kept us viable over the years, it isn’t the products we sell or the processes we follow – it’s about the people that we hire. We have been blessed to have a long history of exceptional people working for Shuster Corporation. Our people care, and that is a pretty strong foundation to build a business on."
"We certainly congratulate all at Shuster Corporation for reaching this truly remarkable milestone," said Tim Breen, Motion Industries' president and CEO. "The Shuster team's unwavering commitment to service excellence has definitely contributed to the company's growth throughout the years. We're proud that Shuster is part of the Motion family, and look forward to another, even more successful 100 years."
Shuster Corporation began in coastal New Bedford (also known as "The Whaling City"), when in 1916 Simon Shuster started as a scrap dealer. Over time, Shuster started supplying industrial products to the local fishing fleets and industrial customers. That business model evolved during the 1970s, when new generations of Shusters took the helm. When there were bearing shortages, Shuster Corporation saw the opportunity to grow by supplying hard-to-find bearings. Shuster achieved this by purchasing surplus items from a network of friends in the industry, and ultimately, sourcing select items from China and other countries to help fill the demand.