General MetalWorks Corp. receives 2010 Industry Award
General MetalWorks Corp. (GenMet), a custom metal fabricator based in Mequon, Wis., has received The FABRICATOR's Industry Award 2010, presented by the Fabricators & Manufacturers Association, International (FMA). The FMA award is bestowed upon an individual or company within the metal forming and fabricating industry that has successfully improved operations, attained business success, and contributed to both the local and industry communities.
The FABRICATOR's Industry Award 2010 will be presented to GenMet in a ceremony during The FABRICATOR's Leadership Summit, which begins March 3 at Disney's Boardwalk Resort in Lake Buena Vista, Fla.
"This award is designed to recognize those individual leaders and companies that display innovation and determination to succeed," said Gerald Shankel, president and CEO of FMA. "Manufacturing is the backbone of America, and we're proud to honor GenMet as an industry success story."
Although its revenues decreased to $10 million in 2009 from a record $12.6 million in 2008, GenMet maintained very similar gross profit margins last year when compared to a year ago. A big reason for that success is the company's commitment to lean manufacturing efforts. The company's finished goods inventory is at an all-time low, and lead-time for fabricated parts has been cut down to only a matter of days, instead of weeks. Also, in recent years employee productivity has increased because of new technology investments and the development of a highly skilled and flexible work force. The company is in a great position to prosper in 2010.
GenMet also will be featured in a cover story in the February 2010 issue of The FABRICATOR, North America's leading magazine for the metal forming and fabricating industry.
"GenMet is a terrific example of the type of metal fabricating company that all of our subscribers should strive to emulate," said Edward Youdell, group publisher of FMA Communications, Inc. "Their focus on employee productivity and their skilled, flexible work force have allowed GenMet to achieve excellent profit margins in what we all can agree was a difficult year. In short, they are a group of focused, smart, and committed people who did not let the economy of 2009 be an excuse not to succeed. I congratulate them on their extraordinary performance this past year and look forward to seeing what they can accomplish in 2010."