05 Jul 2012
- Written by Tri-State Defender Newsroom
Six Tennessee companies are among the nation's top-grossing black-owned businesses as listed in Black Enterprise magazine's 40th annual BE100s report.
The cornerstone of the publication's June issue, the analysis includes 230 companies broken down into seven categories: industrial/service companies, auto dealers, advertising agencies, private equity firms, investments banks, banks, and asset management firms. The Black Enterprise list is widely recognized as the most authoritative analysis and ranking of the nation's most successful African-American companies.
With their revenues in millions, the Tennessee companies ranked on the 2012 BE100s list are:
• Industrial/Service Companies (revenues in millions): No. 11 – Manufacturers Industrial Group L.L.C., Lexington, $356.700; No. 76 – Zycron Inc., Nashville, $35.878; No. 78 – Porter-Walker L.L.C., Columbia, $33.800.
• Auto Dealers (revenues in millions): No. 21 – Lexus of Memphis, $67.517.
• Financial Services Companies – Banks (assets in millions): No. 14 – Tri-State Bank of Memphis, $125.663; No. 17 – Citizens Saving Bank & Trust Co., Nashville, $87.376.
Black Enterprise develops rankings by collecting surveys from companies and gathering information from government agencies, professional organizations, industry associations, business information services and corporations. The information includes totals for the 2011 calendar year, a detailed description of business activities, and confirmation that the entity is at least 51 percent black-owned, or that blacks own at least 51 percent of its controlling shares if the company is publicly traded.
The complete BE100s report is available in the June issue of Black Enterprise. Visit www.blackenterprise.com for more information.