Precision Pump, a manufacturer of down-hole pumps used in oil production, is under thumb of Mark Burris for the second time in its 28-year history. DOWN-HOLE pumps are a component of an oil well’s production sequence. They are connected to a pump jack atop the ground by a rod that activates their action to lift fluids — oil or water — from underground formations. FORMER IOLAN Joe Betzen started what today is Precision Pump in the old Walton Foundry building at the east edge of Iola in 1986.
Burris, his wife Deanne and a partner, Dave Murfin, Wichita, purchased the company from Cameron International, Houston, in early July.
“We’re in the midst of recapturing what we did earlier,” Burris told the Register Wednesday afternoon. “We’re re-establishing old contacts, both in the United States and globally.”
Burris also owns Superior Products, another oil field manufacturer, a quarter of a mile east of Precision on Miller Road. It makes valves, chemical pumps and pipeline closures, as well as other accessories used daily in the oil patch.
“We see a lot of upside to Precision” this time around, Burris said, noting today it has 57 employees, about half as many as when it was sold to Cameron in 2008.
With its corporate office in Wichita, Burris said Randy Misenhelter, who managed the plant previously, had moved over from Superior and would deal with day-to-day issues. Several Superior employees adept at machining work also made the switch.
At time of purchase, Burris said the company’s revenue stream was about a third of what it had been under his earlier watch.
With ample room to grow sales and consequently production, Burris said refined manufacturing techniques would be employed to tap into the company’s potential. He also expects to bring on board new employees. A part of the equation will be evaluating manufacturing processes, which “will be done on a continuing basis.”
“We are excited, Deanne and I, to be back involved (with Precision),” Burris said. “We have a good crew here.”
Being a member of the USD 257 Board of Education, Burris didn’t resist pointing out that new schools would enhance his opportunities to hire quality employees. New schools will encourage young families with work-a-day parents to favor living in or near Iola, he said.
With Precision back in hand, Burris said he can now produce the whole package of production equipment. Burris is also president of Century International, a Wichita company that sells jacks.
Merging the businesses of Century and Precision is down the road, Burris said.
Burris and Murfin also have oil field service companies based in Garnett and Madison.
Burris worked for Betzen. He purchased the company in 1990. Shortly thereafter, he moved it to a building at the north edge of Humboldt and then returned to Iola and the old Miller and Son Dress Factory, 25 W. Miller Rd., in 2003.
Precision again locally owned
