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MOORESVILLE, NC – In 2018, Doug Yates made a bold bet to diversify his business.
Her father, NASCAR Hall of Fame member Robert Yates, passed away in 2017 and her mother was planning to sell the former Yates Racing team store in Mooresville. Doug, the CEO of Roush Yates Engines, saw an opportunity to use his company’s manufacturing capabilities to venture further into industries outside of racing.
Yates decided that Roush Yates Manufacturing Solutions, which was founded in 2008 as a division of Roush Yates Engines, would move into the 88,000 square foot building. The company renovated the space into a world-class manufacturing facility after moving from its former home of approximately 30,000 square feet across the street. With the installation ready in 2018, Yates knew it was time to step up the company’s efforts to diversify into manufacturing.
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Yates said on Tuesday that the company has doubled its revenue in each of the past three years. Roush Yates Manufacturing Solutions began by manufacturing engine parts using its CNC manufacturing capabilities. This represented about 90% of its startup business, Yates said. Today, the division’s activity consists of around 90% of exterior work and it has ventured into the defense, aerospace and industrial sectors.
With rapid growth in its manufacturing activities, the division is now expanding its business to Mooresville. The company’s experience in manufacturing racing engines has allowed it to diversify, Yates said.
Read the full story here.
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