PAPCO, Inc., a petroleum marketer based in Virginia Beach, Va., announced that it was recently named by Inside Business as one of “Hampton Roads’ Roaring 20 Companies.” Honoring 20 of the region’s most dynamic and fastest growing businesses, this annual award is based on revenue and employee growth, as well as on the significant contributions the companies make to the local economy and beyond.
PAPCO Chairman and CEO John Malbon commented, “This award is a source of great pride for us. The most valuable asset in any company is its employees. Ours is a tough industry, but we have an incredible group of employees who provide the highest level of service to our customers. Their loyalty, commitment, and dedication have created a unique work environment that has become the key to our success.”
Over the past three years, PAPCO tripled the number of product gallons it ships, and in the last five years expanded its business footprint from four to 15 states. In the process the company has grown exponentially, and has had to adapt significantly to continue meeting their customers’ ever changing needs in the energy industry.
“Our business model has definitely evolved over the years,” said PAPCO President, Gary Gilmore. “It wasn’t all that long ago we simply picked up product at the racks and delivered it, but now we are shipping and storing product up and down the Colonial Pipeline for customers throughout the Eastern US. As a market leader in the refined product marketplace, we form partnerships with our customers and help them manage their fuel costs and market exposure in today’s volatile energy markets.”
The Hampton Roads’ Roaring 20 Companies were announced during an awards banquet on November 9, and have been profiled in a special report included in the November issue of Inside Business.