June 25, 2014

Castle Plans Another $7 Million in Cuts
 
A.M. Castle, which launched an aggressive reorganization campaign in 2013, has announced another series of cost-cutting initiatives. The new plan is expected to save a further $7 million through a streamlining of operations.

The changes include workforce reductions in both executive and management positions, and will take place beginning in the third quarter. The company's 2013 cost-reduction moves included the closing of several locations.

"The organizational changes we are implementing continue moving us closer to our targeted cost structure," says Scott Dolan, president and CEO of the Oak Brook, Ill.-based service center. "We are beginning to see some improvement in the scope and quality of our order book, but we need to expedite our commercial initiatives and ensure we efficiently apply our resources where they will have the greatest impact for the company. Further, we must continue to streamline our organization to increase our speed of communication and decision-making."

The organizational changes include the retirement of Tim Lafontaine, vice president of marketing, who will continue with the company until mid-2015.

"These organizational changes were implemented as part of our ongoing continuous improvement plan and were not in reaction to the company's recent financial results. Through the first two months of the second quarter, we have seen operating and financial results that are comparable to the first quarter overall. We will continue to look at the organization as a whole to ensure it is operationally and structurally optimized and aligned with our objectives," Dolan says.

June 2016: Toeing the Line on Workers' Wages
More...
 
Pause
June 2016: Take a Pass on Pass-Through DBEs
More...
Fall 2015: Cutting & Sawing Equipment
More...
Summer 2015
More...
 
Pause
Butech Bliss Multi-Blanking Line Handles High-Strength Steel
More...
Bradbury Group: Athader's Double Eccentric Slitter Head Eliminates Movement
More...
FIMI Lines Slit Steel, Aluminum
More...
Red Bud Industries, Offers Heavy-Gauge Slitters
More...
Cosen's MechaLogix System Monitors Blade Life
More...
Behringer Band Saw Designed for Fast Material Removal
More...
Pat Mooney: Danobat Band Saw Has Zone Cut Technology
More...
 
Pause
Privacy Statement  |  Terms Of Use
Copyright by Metal Center News



Friday, July 1, 2016