Plant closures and layoffs have a devastating impact on Pennsylvania communities. The Strategic Early Warning Network provides free turnaround services to small- and medium-sized manufacturing companies in order to avert such events.
SEWNews is published on a monthly basis to highlight some of our recent successes within your community.
A medical contract manufacturer in Southeastern Pennsylvania contacted SEWN for assistance with restructuring its finances. The company lost one of its major customers to a natural disaster. A second customer is steadily decreasing its order due to off-shore market issues. SEWN provided the company with a cash-flow analysis and financial forecasting model. Additionally, SEWN assisted the company in introducing a new domestic market penetration strategy.
December 18, 2011|By Jane M. Von Bergen, Inquirer Staff Writer
Bill Wallace's company, William J. Labb Sons, Inc., a small manufacturing firm in Philadelphia, survived the recession - but barely.
A Southeastern Pennsylvania machine shop contacted SEWN to assist with its restructuring. The shop provides CNC, water jet cutting, and fabrication services for turbine engines. SEWN conducted an on-site visit to evaluate the client's most pressing issues. SEWN is working with the client to explore credit options for a financial restructuring of the company's current debt. SEWN is also assisting the company to develop its capacity and implement through-put improvements.
The Delaware Valley Industrial Resource Center (DVIRC) referred two clients to the Southeastern office, both of whom suffered a tremendous loss of revenue and were negatively impacted by foreign competition in the housing industry. SEWN is working with both companies to restructure their resources and to redefine their existence in a new market reality. SEWN is creating new financial models focused on maximizing cash flow. SEWN is also working with the customers to stabilize their workforces and realign the production work flow.
Join us in welcoming Greg Olson to the SEWN team. Greg is the new Manufacturing Director for the Southeastern PA SEWN office. Greg has successfully helped to develop and implement three company turnarounds and two business start-ups. He has worked in leadership roles with large manufacturing companies and smaller industries. Greg has a BBA in Labor Relations from Temple University and an MBA in Marketing from LaSalle. He will lead the southeastern Pennsylvania turnaround consultants, Jack Bardol and Jim Pater.
Since its inception in 1993, The Strategic Early Warning Network has contributed to the retention and revival of more than 700 industrial enterprises within Pennsylvania, impacting more than 18,000 jobs. SEWN assists manufacturers throughout the state who are struggling to grow or improve the competitiveness of their business. SEWN provides professional and confidential turnaround, financial, and investment services to small- and middle-market firms employing 25-500 workers through the following core services: Financial Restructuring, Operational Restructuring and Cost Management, Ownership Transition and Buyouts, High Performance Workplaces, and New Market Opportunities. All of SEWN’s services are provided free of charge, and all information provided is handled in strict confidence. For additional information, please contact your local SEWN office.
The Strategic Early Warning Network is a program of the Steel Valley Authority in partnership with the PA Department of Labor and Industry.
