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Enterprise Turnaround

Cultural and Financial Transformation

Project Description

Situation

A large aluminum fabricator was acquired by a U.S. based multinational. The company’s culture was inconsistent with that of the acquiror and its performance was poor in every respect: profitability, productivity, employee engagement, quality, safety, on-time delivery, and compliance were all at unacceptable levels.

A top-to-bottom turnaround of the current operations of the enterprise was required, while simultaneously aggressively investing in new equipment to improve its capabilities.

Approach

(1) Implement an accelerated program to change the culture of the enterprise via structured communications and replacement of management.

(2) Change the company’s business, HR, production and maintenance processes and systems for greater compliance, efficiency, and productivity, including the application of lean concepts, new metrics, evaluation practices and ERP.

(3) Implement an aggressive capital program to install new equipment.

(4) Implement lean concepts in both shop floor and business functions.

Results

(1) Reduced staffing by >45% as revenues doubled, while improving employee engagement and establishing a culture of compliance and excellence.

(2) Improved EBITDA margin 8.3 points while revenues more than doubled.

(3) Increased capital expenditures from negligible to >24% of revenues.

(4) Improved compliance, quality, safety and on–me delivery performance.

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