Diversification not only offers benefits when investing. It also provides a way for manufacturers to better serve their current customers and attract new ones.
Consider the case of Syracuse, NY-based Gear Motions Inc. (GMI), a manufacturer that specializes in custom precision-cut and -ground gears for OEMs worldwide. Company products include helical, spur, pump, bevel and worm gears, as well as multiple types of sprockets, timing pulleys, shafts and splines.