該商為一家位於美國密西根州專門製造壓克力及鉻合金電鍍產品製造商，該公司之主要產品為提供汽車、卡車及摩托車之裝飾零配件，主要客戶包括General
Motors, Nissan,
DaimlerChrysler等汽車廠，已有50年歷史，營業額超過56.7百萬美元，因所有權人經營旨趣改變，而尋求有意併購該公司之國外廠商。
The business serves an international customer base including
OEMs such as General Motors, DaimlerChrysler, Nissan and Harley
Davidson and large Tier 1 Suppliers, such as Magna, Collins &
Aikman and Flex-N-Gate. These customers are well aware of the
Company’s proven engineering and manufacturing capabilities and
recognize the reliability of the Company’s products for use in a
wide range of application. The business has a successful history
of nearly 50 years and is highly regarded for its engineering
expertise and innovative approach for plating and assembly of
products requiring multiple complex technical processes.
For fiscal 2004, net revenues exceeded $56.7 million and EBITDA
surpassed $5.6 million. Significant increases in resin and other
manufacturing costs in 2005 and 2006, which have affected most
of the industry, combined with above-normal up front costs to
launch 25 new product programs during the last year resulted in
a drop in profitability. Management has taken a number of
initiatives to reduce costs and improve margins on new products
programs. The Company is now well positioned to reach new
revenue levels and improve profitability considerably in fiscal
year 2007 and thereafter.
The Company anticipates sustainable long term growth as current
trends in adding more decorative acrylic and chrome plated
components to cars and light-duty trucks accelerates. This
growth trend in chrome accents is expected to accelerate both
for interior components, such as doors and dashboards, as well
as for exterior components, such as fascias, windows, bumpers
and wheels.
Investment considerations
1.Core Competency in manufacturing Complex Acrylic and Chrome
Plated Products.
2.Highly Talented Management Team
3.Significant Business Prospects
4.Rigorous Application of Lean Manufacturing Practices
5.Blue Chip, Diversified Customer Base
6.Proximity to Customer Locations
7.Dedicated and Highly Skilled Workforce
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