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Bomco Grieves the Loss of
Its President,
Pete Banks.
Gloucester, October 17,
2005. Neill Kramer
“Pete” Banks, Jr., 75,
died peacefully at his
home in Gloucester, MA
on Wednesday,
September 21, 2005.
Born on March 10,
1930 in Savannah, GA,
he was the son of the
late Sara Neville Banks and Neill Kramer Banks.Pete was well-known as the president of Bomco, Inc., an innovative metal manufacturing firm with nearly 100 employees and over 7,000 different production items including metal formed parts for aerospace and industry, glass-to-metal seal assemblies and wire handling accessories. Pete loved this business and the daily challenges it presented particularly when a job appeared impossible due to its technical nature. He had a keen interest in each of his employees and helped create a work environment with employee training and benefits which had made Bomco, Inc. not only a highly respected employer but also a recognized leader in the metal forming industry.
Pete graduated cum laude from the Kent School in Connecticut in 1948. He went on, with a full Navy R.O.T.C. scholarship, to graduate from Cornell University in New York in 1953 with a degree in mechanical engineering. Pete then spent three years in the U.S. Navy, serving as an electronics material officer and later as a navigator aboard a destroyer.
In 1956, Pete along with his wife Ann moved to North Bennington, VT. There, he worked as a production manager for the Warren Wire Co., of Pownall, VT where he came into contact with the fledgling business of Bomco Pressed Metal and Spinning Co., of Gloucester. Fascinated with the metal spinning process, he joined the company and moved to Gloucester in 1960. Pete became president of the newly incorporated Bomco, Inc.
During the 1960s and 70s, in addition to running a business and raising a family, Banks was an active member of the Gloucester business community serving on industrial development, bank and hospital boards. He was also instrumental in gaining passage of a bill preserving the natural beauty of Cape Ann.
Pete loved to spend time aboard his 1924 Crosby Yawl sailboat, “Spindrift,” and rarely missed a year of sailing to Maine. He was an avid reader and was well-versed in world events and situations.
He is survived by his children Deaken Knight Banks, Lansing Decamp Banks, Pamela Banks and four grandchildren.
Edited with permission of the Gloucester Daily Times.
A memorial service was held on Saturday, October 1, at the Bomco facilities that Pete Banks loved as his second home. Family, employees, community and school friends celebrated Pete Bank’s life in an outdoor service that was followed by a luncheon on a cloudless and warm October day.
New Chairwoman and President join Bomco’s management team.
Succession Plan Assures Management Continuity
|
The Bomco Board of Directors has approved a succession plan,
previously prepared by Pete Banks and his management staff, that
assures the continuity of Bomco’s operations by appointing highly
qualified and experienced officers to the management team. Maria Blair retains her position as Vice President of Administration and expands her responsibilities as Chairwoman of the Board. Mike McCarthy, previously Vice President, is responsible for overall operations of the company as President and joins the Board as Director. Peter Higgins, previously Manager of Accounting, becomes Treasurer. Mark Standley, Vice President of Technical Sales, continues in his role as officer and management team member. All the members of this new management team are long term Bomco employees with years of experience working together, assuring a smooth management transition and a strong future for Bomco.
 © 2005 Bomco, Inc., Gloucester, MA |
