Problem
A 100 year old coatings and adhesives manufacturer was
facing declining sales and profitability. The company had grown into
highly divergent markets and away from its core business. While some
business units were prosperous and defined the future of the company,
others were declining, unprofitable and clearly out of sync with the
direction of the business. Its expansion into China and other parts of
the Asia Pacific region had not gone well. The company as a whole had
lost its focus and direction. Shareholders were becoming increasingly
unhappy with its financial performance.
Solution
Orr & Boss assisted in developing a renewed vision and a
revised corporate strategy that focused on profitable and high growth
segments were developed. Divestitures of non-performing business units
were made. Key acquisitions also took place. Business processes were
reengineered and significant organizational improvements were made. A
highly unprofitable channel of distribution was exited. Joint venture
alliances and licensing agreements were successfully developed. Key
replacements on the management team were made.
Results
