WEATHERFORD, Tex. — Fuel additive provider Power Service Products has been named Texas’s fastest-growing family-owned business for 2005.
The company was recently honoured at a banquet along with nine other family businesses in Texas.
The award is presented by the Institute for Family Business, a division of the John F. Baugh Center for Entrepreneurship at Baylor University’s Hankamer School of Business.
“It will be a tremendous thrill to accept this award on behalf of my late father, who founded the company in 1956, and the three generations of my family that have devoted so much effort to building Power Service into the thriving, technologically sophisticated company it is today,” said Ed Kramer, owner and president of Power Service Products.
Power Service produces diesel additives that the company says reduce emissions, improve fuel economy and enhance engine performance. Kramer’s father Al started the company in the family garage. Ed took over the company in 1971 and established a strong distributor network that has been instrumental to the company’s success.
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