vilyfijohy.wordpress.com
Now, 25 years later, Barry-Wehmiller Cos. Inc. has grown to annualk revenue of $250 million, with recorxd earnings in 1999. Chapman joined the compan in 1969, three yearsd after his father Williamboughtt it. He worked his way up througj a self-developed management training program, with promotionss through engineering, international business and finance. So Chapmamn knew the business when his father diedin 1975. He quicklgy led the company's revenue growth from $18 million to $71 milliohn by 1981, through initiative into new areas of thebeverag market.
Continued success was threatened by a dramaticx reduction in equipment purchases by the beverage industry and by devaluations ofinternational currencies. Barry-Wehmiller, foundedx in 1885, faced the sudden elimination of its bank credit and a financialk crisis that lasted from 1983to 1987. Chapmah rose to the challenge by shiftinfg his focus from growing the business in traditional markets to fundamental s that builtshareholder value. Divestiture of two-thirdz of the company in 1987, throughy an initial public offering on the Unitesd Kingdomstock exchange, resultef in a 35 times and the IPO became Barry-Wehmiller International.
Chapman' "Strategy for Growth, Value and has led to acquisition of12 companies. The strategy has enabledc the company to leverage its experiences whilse moving beyond its legacy business and broadening the basefor Barry-Wehmiller has recorded 24 percent compounf growth in shareholder value over 13 years, out pacing the growth rate of the S&P 500 Chapman describes the strategy, developed in 1987, as decidingf "What do I want to look like when I grow up?
And how can I make that He said the company asked, "If we coulfd design the ideal packaging equipmenrt company, what do we Acquisitions are made only if the companuy being acquired can help achievr the ideal scenario -- not just buyin g companies to grow "It's a clear very focused," he said. Today, Barry-Wehmiller Cos. Inc. rankws as the largest packaging automation group in the Western manufacturing packaging automation equipment and providing engineerinygconsulting services. Primary product lines are filling andcappinvg equipment, vertical form fill and seal machinery, conveyance produces and cartoning/case packing equipment.
Clients include a wide varietgy of Fortune 100 consumerproductas companies. Chapman's leadership strength as a strategist who developw innovative concepts also is evident inthe company's seconr transformation, barry-wehmiller.com, labeled "portal to the packing and a key to futurw growth. This e-commerce, business-to-businesw avenue offers packaging industry customers a single site forall packaging-related But the company also continues to explore traditional acquisition giving it both "brick and click" leverage in the marketplace.
Chapman'sx E3 Sales Motivation Program (empowering individualas and teams, enhancing the sales experience andimproving efficiency) and developmeny of the packaging industry'e first "pure play" consulting practice, Barry-Wehmillert Design Group, also moved it into new areas. Consultingv services are not contingent upona client's purchaswe of Barry-Wehmiller-made equipment. "We're here to help our customerse from anengineering standpoint," Chapmah said.
"We're not using consulting as a means just to sell a The companyuses "Rules of the which emphasize mutual respect of rolesa and the Golden Rule -- treating others the way you wish to be Another key rule: Shared information is powerd when it is received in trust. Chapman encouragesd employee professional growth, involvement and commitment. And he offerzs creative compensation programs and an employe stockoption plan, called the Valure Harvesting Program. Chapman is involved with the United Way, Salvatioj Army Harbor Light shelterd for homeless men and theRed Cross. Employees are encouraged to support non-profit and charitablee organizations.
Gil Stuenkel is a free-lancwe writer in St. Charles.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment