GM Bankruptcy Filing no Surprise for Lauren Companies
Forward-thinking, Diversification and Corporate Strength
Keys to Future Growth
NEW PHILADELPHIA, OHIO - June 3, 2009 - Progressive companies such as Lauren Manufacturing, flagship subsidiary of Lauren International, Inc., realized several years ago that automotive companies such as GM and Chrysler, were not only losing market share but would be adversely affected in time. In response, the company's intentional efforts toward continued diversification of its markets, products and services backed by strong reinvestment from parent company Lauren International have positioned it for growth. As a result, the impact from GM's filing has been minimal.
"There is little surprise that GM - and Chrysler as well - ended up in bankruptcy reorganization," commented Scot Peters, VP Sales and Marketing, Lauren Manufacturing. "They were capital intensive, heavily regulated and faced tremendous competitive pressures. For the past eight months the only real question was when, not if, they would fail. Combine all that with product oversupply, a recession in consumer spending, lack of credit availability, a plunging stock market and shrinking home values - and what resulted was true economic disaster. Even Toyota, widely believed to be the best mass producer in the world, posted a staggering loss in 2009."
Lauren Manufacturing's diversification includes serving dynamic markets including those producing solar PV panels, water and waste water filtration systems, wind turbine technologies and others. Lauren Manufacturing's ability to continually drive new business is directly attributed to parent company, Lauren International, and its willingness to reinvest.
Financially strong, Lauren International holds a diverse portfolio of businesses including Lauren Manufacturing - engineered polymer product solutions across multiple markets; Edgetech I.G., suppliers of fenestration industry products, services and equipment; LMI Custom Mixing, state-of-the-art polymer mixing facility; Lauren AgriSystems and Lauren Dairy, innovative polymer products for the dairy and agriculture industry; Nurtured Pets, health and wellness pet products to the pet industry; and Lauren Innovations, first response and disaster planning software across multiple vertical markets. These Lauren Companies serve a wide array of customers in multiple markets and Lauren International continually reinvests back into them. Most recently, significant investments were made into its state-of-the-art mixing facility, LMI Custom Mixing which supplies raw materials for subsidiaries Lauren Manufacturing, Edgetech I.G., and Lauren AgriSystems.
"Investments into LMI's mixing capabilities have enhanced our overall business, allowing us to service our customers better now and in the future as we continue to grow," said Jim Nixon, General Manager for LMI Custom Mixing. "Our research, development and overall capabilities extend well beyond what's available in the custom mixing market today, and we are using that to the advantage of the Lauren Companies as they serve new markets."
As vice president of sales and marketing for Lauren Manufacturing, Peters is optimistic about the future at Lauren despite recent events at GM and the auto industry. Noting the company's recent investment into water-jet cutting equipment, Lauren Manufacturing continues to push forward with products and services based on customer need.
"Lauren Manufacturing, like most businesses in the country, have not been completely unaffected by these historic changes within the automotive industry. But, because we are very well diversified, have a philosophy of continued reinvestment back into the company and are future-oriented, we have the confidence and ability to carry out our plans to grow both market share and sales."
About Lauren Manufacturing
Lauren Manufacturing is a full-service supplier of standard and custom extruded and molded sealing solutions. Lauren strives to deliver value to its customers through superior products by combining operational excellence and exceptional customer service with unmatched speed-to-market. Contact us at: Ph: 800-683-0676, Fax 330-339-1515 or visit www.lauren.com. Lauren Manufacturing is located at 2228 Reiser Avenue SE, New Philadelphia, Ohio 44663.
About Lauren International
Lauren International is a dynamic provider of innovative products and services. Vertically integrated, it is comprised of seven subsidiaries including Lauren Manufacturing, Edgetech, I.G. Inc., LMI Custom Mixing, LLC, Lauren AgriSystems, Nurtured Pets and Lauren Innovations. All Lauren Companies strive to bring the latest innovations to their respective industries by using the most advanced technology. Contact us at: Ph: 800-683-0676, Fax 330-339-1515 or visit our Web site: www.laureninternational.com. Lauren International, Inc., is located at 2228 Reiser Avenue SE, New Philadelphia, Ohio 44663
