Speaking to members and officers of the Petroleum Equipment Institute (PEI), Rick Long, general manager of the organization, presented a positive overview of the year​ for fuel handling equipment manufacturers and distributors​.

During his speech, which was given to more than 300 association members at PEI’s annual membership meeting, Long declared the state of PEI's union "strong." He cited continued positive return on asset numbers for distrubutor members and an overall optimistic business outlook for 2016 as reasons for the assessment.

"EMV (Europay Mastercard Visa) upgrades, new store construction and compliance work related to the 2015 EPA ​underground storage ​tank regulations are the primary business drivers for distributor members right now," Long said, "​Manufacturers cite innovative new products and emerging international opportunities as the brightest spots in their world."

As a result of the expanding industry, ​Long expects ​more than 60 percent of all distributor members ​to hire additional employees in 2016.

​​"Distributors' number one concern about the coming year is directly related to the expected increase in business,” Long said. “Many are not completely sure how they can best attract, recruit and train the additional technicians that will be needed to serve their customers.”

Long's remarks were delivered during a speech at PEI’s annual membership meeting on Tuesday, Oct. 20. The event was held in conjunction with the 2016 PEI Convention at the NACS Show in Atlanta, the organization's 66th annual convention and trade show.

Founded in 1951, PEI comprises more than 1,600 companies engaged in manufacturing and distributing equipment used in the fuel and fluid handling industry. Members are located in 50 states and 81 countries. PEI is the leading authority and source of information for the fuel and fluid handling equipment and services industry. The association is committed to promoting the value of distributor services and improving the business relationships and practices of its members. PEI is headquartered in Tulsa, Oklahoma. For additional information, please contact Chris Bouldin at cbouldin@pei.org or visit www.pei.org.