The client manufactures a variety of highly specialized, open-die forgings and rolled rings from a variety of material grades, including low alloy and stainless steels, as well as aluminum, nickel and titanium-based alloys. 

The Company services five primary markets, including: energy exploration, commercial aircraft and aerospace, defense related products (primarily marine shafts), power generation and general industrial products. 

At the time of our engagement, the Company reported revenue in excess of $35M.

–Fort Dearborn was hired to: (1) review the Company’s forecast and Operating Plan, (2) identify performance improvement opportunities and (3) evaluate the Company’s strategic options, including senior debt refinancing.

Working with management, Fort Dearborn:

–Reviewed and revised the Company’s annual budget and operating plan; and

–Identified profit and cash flow improvements, including:

• Implementing lean manufacturing techniques to drive expense reductions and improve margins;
• Implementing cost containment efforts to reduce overall operating expenses; and
• Driving product specific margin enhancements to increase product profitability.

•Fort Dearborn developed an Operating Plan that resulted in margin improvement and expense reductions.

•The Company returned to profitability and eventually refinanced its senior debt.