The Women’s Business Enterprise National Council (WBENC) (Washington, D.C.) has certified NTM Inc. (Minneapolis), a manufacturer specializing in cutting tools, precision machining and CNC tool grinding, as a woman-owned business. Businesses must be at least 51% owned, operated and controlled by a woman or women to achieve this designation.
The company, started by Bob and Bill Thielen in 1976, is now run by Bob’s daughters Cynthia (Thielen) Blue and Barbara (Thielen) Dorumsgaard. NTM has always been a family-run company, run by Bob’s wife Marianne Thielen following his passing until she retired in December 2012 and their daughters took over.
“My sister…and I are very proud to carry on our father’s legacy in manufacturing quality cutting tools and providing precision machining for the defense industry. Becoming a certified woman owned business will place our company in an arena to better serve the manufacturing community,” said Dorumsgaard, president of NTM.
Increases in government contracts and association contracts calling for women- or minority-owned suppliers has made the official designation important to the company.
Currently selling through national distributors, NTM plans to expand to online sales this September.
“We have steadily grown over the years. We manufacture our own line of magnetic v-blocks, Swiss-tool holders and boring bars. Keeping our customers boring is our top priority. Providing custom CNC tool grinding services and precision CNC milling and turning are our specialties,” said Blue, vice president of NTM.
NTM is located in Minneapolis and has 34 employees.
The WBENC is the nation’s largest third-party certifier of businesses owned and operated by women in the United States.