Label Technology named ‘Green Business of the Year’
August 4, 2016
it seems like all you have to do is start a business in
your garage and it will turn into a big success.
John Bankson, founder of Label Technology, did just that
with his first labeling machine — and now his company
is one of the largest in Merced County.
past week, Label Technology was honored as the Green Business
of the Year by State Senator Anthony Cannella and the Greater
Merced Chamber of Commerce. The company, operating since
1986, produces labels and flexible packaging products which
are distributed around the world.
“I had to take out a third mortgage on my house [to
pay for it],” said Bankson, who had his son David,
at the age of 18, helping him get started.
David Bankson is now the president and CEO of Label Technology
which employees a whopping 126 employees.
Bankson already knew a lot about the labeling business when
he bought the 4-inch labeling press and installed it in
his garage. He had the sales contacts and the know-how accumulated
from working for other firms.
came from the Bay Area, moving down to Los Angeles as his
career developed. He spent 17 years with one firm which
produced specialized paper products for packaging back in
Pennsylvania. That company went bankrupt and took most of
Bankson’s savings with it.
He moved to Merced where his wife had family, but he never
gave up the dream of “owning my own business. ”
The labeling and packaging business has changed so much
during the last 30 years. Each change seemed to require
new and better equipment. Several of the presses used by
Label Technology today cost over $3 million. The packaging
equipment is equally pricey.
As the business expanded, Bankson moved from one plant to
another and Label Technology now owns one 50,000 square
feet building, and has leased another 100,000 square feet
of building space.
Part of that growth has been in the area of environmental
responsibility. “We owe future generations a clean
Bankson refers to himself as “98.99 percent retired,”
however, it is obvious that he maintains a focus on the
business which he founded and can give facts and figures
off the top of his head. He is 82, and doesn’t look
his age because he keeps in good shape and is an active
participant in the business.
He credits the success of the company to having the right
people, ones with a “Yah, Yah spirit.” He recognized
his son for having been a major factor in the company’s
growth. Albert Gabriel is the plant manager and has been
a part of the team for 20 years. Vinton Thengvall, as the
Chief Financial Officer, is making a major impact on the
company’s growth, and all the 126 employees who keep
the company running smoothly deserve credit in the success
of Label Technology. The company is employee-owned and operated
and sales are expected to be about $40 million this year.
In response to the most recent award as the Green Business
of the Year, Bankson was honored that Label Technology was
selected. “Some people say a business can’t
do both … They are wrong. A business can do both,
be pro-business and pro-environment.”