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At Coastal Chemical and Paper Supply, Inc., CEO Scott Miller is diversifying to survive.
His company is adding a new line of low-cost products to save customers money.
“In order for us to help our customers with their toughest cleaning and sanitizing problems, we needed to broaden our product portfolio to include more quality options for them to choose from,” Miller said in a release.
"With the introduction of our Coastal branded product line,” he said “we're able to offer our customers a larger selection of affordable, high-quality products to meet their needs."
The new line features more than 250 products, including a glass cleaner priced 93 cents-per-quart lower than other retail alternatives.
The move could help boost sales for Coastal Chemical, a Sarasota-based company that has felt the effects of the latest economic downturn.
“We are supposed to be a recession-proof industry,” Miller said in a recent feature story for the Business Review, thinking all businesses and public entities would need a cleaning service, no matter the state of the economy. “But I guess there is nothing that is recession proof.”
Annual revenues at Coastal were down 14% last year, from $8.7 million in 2008 to $7.5 million. The company has 26 employees.
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