LOCATION: 3240 E. Van Norman Ave., Cudahy, WI 53110
WEBSITE: www.fabmet.com
Year founded: 1952
Product or service offered: Steel weldments, formed steel, light poles, plasma cutting, oxy cutting, hot forming, warm welding, machining
Projected 2009 revenue: $15 million
CEO, President/Owner(s): Jim Mitchell, CEO
Leadership team: Dave Lauer, CFO; Bob Pelzek, plant manager; Dave Beottcher, vice president sales; Tom Laurent, vice president sales; Greg Poppy, tech. manager; Dan Gonring, quality manager; Joe Carr, MIS manager
Target clientele: Large OEMs in the metals sector
Business organization memberships: None
What has fueled your company’s growth?
Technical innovation in products and processes. Customer focused approach. Culture of “performance” owner/managers.
What is the biggest obstacle to your company’s growth?
Decline of U.S. economy. Off-shore sourcing of basic steel components by OEMs.
High taxes.
Do you plan any changes in your company in the upcoming months?
Change is “constant.” There is no period without change. The survivors are the ones who make the “right” changes in the most economic manner.
Who are the business people, locally or nationally, whom you admire? And what traits do those people exhibit that make you admire them?
Important leadership traits include honesty, intelligence, strong worth ethic and the ability to keep the interests of others in balance with one’s self interests.
What is the outlook for the business conditions of your industry over the next several months?
The steel industry in the U.S. declined sharply at the end of 2008. It is now running at about 50 percent capacity. We would expect this to continue into 2010 and then start to improve gradually.
What is your company’s key strategy for rising out of the recession?
Maintain positive cash flow. Develop new innovations. Win new sales orders to expand the business base.
Congratulations from the strategic partner behind Fabricated Metal Products.
Noran Nehring, CPA, CFE
414-273-0500
www.sattell.com
