The business was incorporated as Dan B. Vincent, Inc. in 1946. It was active in domestic and international markets in the design, manufacture and installation of citrus processing plants for animal feed and pectin peel. The firm was also active in the field of fish processing and conversion of forage crops and sugar cane bagasse. As a refinement of these processes, the Company developed a superior screw dewatering press, first patented in 1961.

In February, 1968 Dan Vincent entered into a contract to transfer ownership of the firm to the Rietz Company in Santa Rosa, California. Rietz was very successful in selling presses to the wine industry in California and international markets. However, they encountered financial difficulties in the 1970-1972 recession, and Vincent Corporation of Tampa resumed operations.

In the 1970's the Company was very successful in the sale of dryers to the major meat-packing plants in the Mid-West for processing meat scrap and bone. New markets were also developed in the production of leaf protein concentrate (alfalfa based) and handling of feedlot manure for methane production.

Throughout all these years the Company has been Tampa based, with all engineering and manufacturing taking place at progressively larger factories in the Ybor City area. Today the Company continues as a family-owned business.

PRODUCT LINE
The main proprietary product manufactured by Vincent Corporation is current versions of the dewatering screw press originally developed by Dan B. Vincent. The patents are expired, yet, because of the specialized niche markets served, no other firm has duplicated the design. These machines sell for between $10,000 and $600,000 each, and about one hundred are sold per year.In 1999 the Fiber Filter was released for sale. This is an innovative filtration machine using fabric sleeves. The original development was aimed at either thickening flows ahead of a screw press or filtering the flow of press liquor from a screw press. Much broader markets are being found for the machine because of its unique combination of fine filtration and high throughput flow.

In the 1993-1994 period remarkable improvement to our Screw Presses was made through the development of Superchargers and High Performance screws. The Supercharger started with bolting down the cover on a horizontal feeder at Cargill, followed by installation of a vertical unit with a hydraulic drive at Orange-co; followed by a VP-16 feeder screw conversion at Silver Springs; vertical units with pressure transducers and electrical drives on new VP-22's at Florida Juice. Today the Supercharger has been entirely supplanted by the Twin Screw Press Series TSP machines.

In 1994 a new series of presses were designed and built: the CP-4 through CP-12. CP originally stood for Cheap Press; this was changed to the politically correct Compact Press. These presses are more economical to produce that the older Series VP, but feature the same durability and conservative service factors. They feature all-stainless steel construction and screens made of profile bar.

In 1996, the Series KP presses were introduced. Featuring even greater economy of design, they retain the robust all- stainless construction. Five sizes are available: 6", 10", 16", 24' and 30", with over 170 machines having been built. They have found acceptance for thickening ahead of other presses, manure, plastics recycling sludge, and food and produce waste. The larger machines have proven ideal for corn canneries.

Another proprietary product of Vincent Corporation is the rotary drum dryer used to dehydrate pectin peel. This is a carry-over from the company's origin.

Other Vincent products include shredders, prebreakers, cooling reels, a variety of screw conveyor devices, and dewatering screens. All of this equipment is used in conjunction with screw presses.

MARKET SEGMENTS
TThe markets into which Vincent Corporation sells its semi-custom engineered machines can be analyzed by end user.

The principal end user of Vincent equipment is the worldwide citrus industry. The citrus industry uses Vincent machinery to process citrus peel both for the production of animal feed and pectin peel. (Pectin is a substance used in food processing, most commonly to make jellies gel.)

The largest market for Vincent presses is the pulp and paper industry. This is a development that has passed up citrus in financial significance. Our style of screw press is new to the pulp & paper industry, and the applications address problem areas that have proven frustrating and expensive to deal with. Dewatering waste streams, such as screen rejects, knots & shives, clarifier underflow, and cake from belt presses, is our forte.

Another basic use of Vincent presses is to dewater waste products at food processing facilities. The purpose of dewatering these waste streams is to separate the water from the waste. This allows the water (press liquor) to be treated and sewered and the solids (press cake) to be reduced in weight and volume. The motive for performing this operation is generally to reduce the landfill dumping fees faced by the food processor. The Series KP presses have proven extremely successful in this application.

Vincent's strongest selling tool is a rental fleet of over one hundred machines. These allow a customer to try a machine before it is purchased. Standard as well as custom presses and filters are available, along with the services of field engineers.

SALES AND DISTRIBUTION
The sales and distribution structure at Vincent is based on independent manufacturers representatives, except for the citrus industry.

International sales originate with overseas citrus processors as well as U.S. parent companies and with independent sales agents. At present, agents in Brazil, Chile and Greece operate with a great deal of success. The overseas offices of FMC Corporation frequently work with Vincent on citrus projects.

COMPETITION
Historically Vincent Corporation's principal competitor was the Gulf Machinery Company of Safety Harbor, Florida. This firm dominated the citrus market by offering a broader range of machinery and innovations that reduced the capital cost of citrus feed mills. In the 1980's Gulf Machinery suffered both from declining markets and a series of warrantee problems. Gulf Machinery filed for bankruptcy in January 1990.

Other Vincent Corporation competitors are larger firms that offer dewatering presses. The principal European firms would be Stord and Vetter. American competitors include Jones Beloit, Andritz (Dupps), and FKC. Rietz, the former Vincent Corporation licensee, can also appear as a competitor. None of these firms are successful in selling equipment into the citrus industry; however, they are dominate most of the other markets that Vincent would like to enter.

GROWTH OPPORTUNITIES
There are a variety of growth opportunities for Vincent Corporation.

Starting with Jefferson Smurfit in June of 1994, the biggest potential market for Vincent presses has become the pulp and paper industry. The recyclers are the quickest market, but we also have proven ourselves in the virgin fiber mills.

Successful testing with the Fiber Filter offers the promise that this series of machines can outgrow the sales of screw presses. The next five years will tell the story.

An important avenue for expanding screw press sales lies in the fact that the Vincent press is very well suited for squeezing water from streams of waste products at food processing plants. Examples include dewatering vegetable and fruit wastes. This is a growing market because of the increasing importance and cost associated with pollution control and landfill dumping fees. Inexpensive CP and KP presses are targeted for this market (in combination with Fiber Filters for cleaning the press liquor).

In the mid 1980's the Vincent press was used in experimental work in the prototype water hyacinth based wastewater treatment system at Walt Disney World. Black & Veatch, the engineering firm involved in the project, specified Vincent presses for the pilot plant in San Diego.

Vincent has an exclusive development and sales agreement with A.O. Smith Harvestore covering the use of Vincent presses in animal manure. The dairy, swine, and cattle industries represent a very large market for KP presses.

ADVERTISING AND PROMOTION
For many years Vincent Corporation had good results by advertising in Thomas Register. A large ad appears under the category of Screw Presses. Starting in 1994 the TR ads have featured Free Lab Testing and Rental Units Available. We dropped our big dryer ad.

Starting in 1998 our web site, www.vincentcorp.com, has come to generate far more sales leads than any other source.

Vincent Corporation advertises in pulp & paper, food, and other trade journals. We also attend pulp & paper trade shows.

Promotional materials are limited to brochures. Good screw press and Fiber Filter brochures are available, but little is available for other products such as dryers, shredders, Pulp Fluidizers, etc.

In 1993 Vincent joined both the Florida Citrus Processors Association and the Institute of Food Technologists. The former works with the ASME to put on a one day seminar in Lakeland in March as well as a golf outing in September. The IFT sponsors the Citrus Short Course each year in cooperation with the University of Florida in Gainesville. Attendance at all of these meetings is important for Vincent Corporation. Vincent has presented four major papers in the last five years.

In 1995 Vincent attended their first NJPA (National Juice Products Association) meeting in Napa, California. Many of our Florida and California citrus customers were present, as well as Brasilian and Mexican processors.

In 1995 we started sponsorship of two coffee breaks at the Citrus Short Course. This goes over very well.

FACILITIES
Vincent Corporation enjoys excellent facilities. The plant, with 30,000 square feet under roof on 3.5 acres, is ample for the needs of the Company. Many improvements have been made so that the building now has adequate wiring, lighting, flooring, crane capabilities, machine tools, and painting facilities.

A test lab has been installed that includes a dryer and several screw presses. This lab is an invaluable tool in securing business for new applications.

Office facilities include a renovated two story office used by the engineering department and a modular building that houses the administration and marketing. These areas are modern and well equipped. The telephone system, copiers, fax, plotters and PC's are more than adequate.

STAFFING
Vincent Corporation operates with approximately 50 employees and an order backlog in excess of $1,000,000.