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Some five years after its management buyout, Extrusion Dies Industries LLC (EDI; Chippewa Falls, WI)) has appointed a new team to direct its worldwide operations and promoted to chairmanship positions the four executives who led the buyout. The company also says it has in place an expansion strategy that will include geographic and technological diversification and possible acquisitions of new businesses.
The new president of EDI is John Ulcej, who was one of the participants in the management buyout. He also assumes the position of vice chairman in charge of technology. Until now Ulcej has been the companys executive vice president in charge of engineering and technology. Dennis Paradise, who until now was EDIs North American sales manager, has been named vice president of sales and marketing. Assuming the position of technology manager is Sam Iuliano, previously the companys product manager.
EDI has also promoted Scott Smith to the position of global aftermarket manager, in charge of rework and spare part sales worldwide; and Greg Raleigh has been promoted to operations manager, with responsibility for manufacturing activities in Chippewa Falls.
In May of 2003, three executives besides Ulcej led the buyout of EDI, purchasing the company in its entirety from a Minneapolis-based bank: Timothy Callahan, who has been president and CEO of EDI, now becomes chairman and CEO and will be responsible for strategic growth initiatives. Christopher Curtin, until now executive vice president of sales and marketing, becomes vice chairman in charge of developing strategic market and commercial opportunities. Ronald Kuhnen, the companys CFO, retains this title while also assuming that of vice chairman. Between the buyout in 2003 and the end of 2007, the companys average annual sales growth percentage was in the double digits, according to Ulcej, and growth continues in 2008.
Early in 2007, the company established EDI Precision Dies (Shanghai) Co. Ltd., a Chinese subsidiary to provide rework, technical support, and spare parts. Soon after, EDI purchased Liberty Coating Systems, a manufacturer of slot-coating dies, and incorporated the Liberty range of dies into its slate of offerings. Then in December 2007 EDI purchased a 19,600-sq-ft (1820-sq-m) facility in Chippewa Falls and transformed it into a Technology Center, including three process laboratories that processors can rent for cast film, slot die coating, and extrusion coating and laminating trials.
These moves are a sign of things to come, according to chairman and CEO Tim Callahan: EDI will pursue a strategy of expansion with an emphasis on finding new ways to add customer value, Callahan said. The future for EDI is likely to include more acquisitions, further geographic diversification, and entry into technological fields that represent natural progressions from our established expertise.[email protected]