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2019 BUSINESS LEADER OF THE YEAR: LARGE COMPANY

Joyce Galea finds new and growing markets for Waterville-based truck-body manufacturer

Joyce Galea, co-owner of F3 Manufacturing in Waterville, has been instrumental in the company's explosive growth.

F3, maker of aluminum bodies and accessories for trucks and vans, was founded in 2016. The privately held company doubled its sales from 2018 to 2019, to $34 million. Employment skyrocketed from 14 employees in 2016 to 230 today. Facility size has gone from 5,000 square feet to 180,000 square feet. In 2018, F3 was ranked in the Inc. 5000 as Maine's third-fastest growing company.

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THE ALUMINUM REVOLUTION

THERE’S A MARKET CHANGE TAKING PLACE

For anyone buying or selling truck equipment, there’s a market change in action that impacts us all. There’s a significant shift away from heavy steel to strong, lightweight aluminum. This is a transition that we’ve witnessed for the last 10 years in aluminum trailers and one that we’re watching play out now with Ford trucks and in the truck equipment industry with many truck equipment manufacturers. Dealers and end users that anticipate this change will benefit the most.

The interest in Aluminum comes from many different angles. Ultimately, what drives it at the truck upfitter level is demand. Through increased education and street-level exposure, end users are asking for aluminum, and they’re asking for a multitude of reasons.

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