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Turbon (Again) Reports On Progress In Realignment Strategy
Aftermarket imaging supplies manufacturer Turbon has said it is making progress in the reorientation of the business.
By Michelle Sturman.
Turbon said its core business – manufacturing and sales of remanufactured laser cartridges – has been challenged by both declines in demand, and a shift in the sales model from being a transactional business to the sale of cartridges as an integrated part of a Managed Print Services (MPS) programme. As such, the company implemented a cost reduction programme which it expects to pay dividends in the form of organic growth in this core business from the first half of 2017.
While 2016 has been a trying year from a profit and loss perspective for Turbon’s US operations, it was included in the group’s cost reduction scheme and has thus benefitted from significant savings in administration costs. Other initiatives involve moving a large part of its Mexican production – acquired in the ILG deal – to established locations in Romania and Thailand, and manufacturing a number of products for the US market at its Pennsylvania location.
As part of this ongoing realignment, Turbon enlisted the expertise of manufacturer rep group Highlands in October and from December will add two members to its US management team. Timothy Clark will join as Sales and Marketing Director North America and Simon McCouaig will rejoin as a member of the board – he was originally a member of the board from 2007-2014. Turbon said that the current CEO of its US operations, Al DeLuca, will leave in February 2017.
For the first nine months of 2016, sales for Turbon fell to €71 million ($75 million) compared to €80 million in the same period last year, while EBIT fell from €5.4 million to €4.7 million. Hattingen, Germany.
http://www.opi.net/category/it-eos/turbon-reports-progress-in-realignment-strategy/
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