01.01.05
Location: Manchester , CT
Sales: $126 million
Description: Key Personnel
W. Leslie Duffy, chairman of the board, David Freeman, president and CEO; Christopher Skomorowski, executive vice president and COO; Thomas Smith, vice president, chief financial officer, and treasurer; Mona Estey, vice president—human resources; Mary Tremblay, vice president, general counsel, and secretary
Plants
Rochester, NH; Saint Rivalain, France; Winston-Salem, NC; Hamptonville, NC; St. Johnsbury, VT; Green Island, NY; Ossipee, NH; Meinerzhagen, Germany; Saint-Nazaire, France
Major Markets
Thermal and acoustical shields and insulation, high-efficiency air and liquid filtration media, bioprocessing and specialty blood and cell therapy products
Brand Names
Lytherm, Manniglas, Manniweb, Affinity, ZeroClearance, dBLyte, Lydair, Actipure, AcuPore, AMS, CRS Wrap, Cryotherm, dBCore, LyPore, BioPak
With annual nonwoven sales up 5% to $126 million in 2004, Lydall Inc., Manchester, CT, reported growth and improved profitability in many of its businesses, particularly nonwoven products. The majority of Lydall’s focus is split across two product sectors, with thermal/acoustical sales representing 66% and filtration/separation sales making up 24% of Lydall’s total business for the first quarter of 2005.
Lydall’s recent sales and profitability gains were overshadowed by the diversion and impact on profitability of strategic actions to consolidate its domestic automotive operations and expand its position in Europe. Results were also affected by the difficulties suffered by the vital fluids operation. In the first quarter of 2005, Lydall’s filtration/separation segment sales declined compared with the same quarter of 2004 while its thermal/acoustical segment sales increased slightly, with all businesses in that segment contributing to growth.
Commenting on current market conditions was David Freeman, Lydall president and CEO. “The global nonwovens industry is a very dynamic and competitive landscape. Lydall’s ability to differentiate itself relies heavily on rapid identification and execution of optimized solutions for ever-evolving filtration and thermal/acoustical applications.”
Another core strategy has been geographic expansion, which has been the focus of much of Lydall’s capital investments over the past two years. In 2004, the company constructed a state-of-the-art automotive thermal/acoustical plant in Saint-Nazaire, France. The new facility, which was officially opened in September 2004, is strategically located to complement its operations in Germany, enabling the company to service all major European automotive manufacturers. According to company reports, the new operation is meeting expectations and doing well.
Lydall is also looking to expand its non-automotive businesses geographically. “Building on our worldwide base for filtration products as well as exploring geographic growth opportunities for active and passive thermal/acoustical product lines will be an important focus in the years ahead,” predicted Christopher Skomorowski, executive vice president and COO.
Currently the company runs operations in New Hampshire, North Carolina, New York, Vermont and Virginia as well as in Germany and France. Lydall also operates sales offices throughout the U.S., Europe, and Asia. The company supplies products worldwide, particularly its active thermal control units and nonwoven air filtration media and cryogenic insulation products.
Acquisitions have also played an important role in Lydall’s growth, although recently the company has been internally focused, dealing with restructuring and optimizing operations. Looking ahead, Lydall considers itself in acquisition mode and plans to concentrate on relatively small, profitable opportunities to augment existing non-automotive products and technologies.
In the area of new products, during 2004 Lydall recorded a 28% rise in sales of products introduced within the previous three years. “The continuous flow of new products and the introduction of existing technologies into new markets have always been key drivers of our growth,” stated Mr. Freeman. “Also, we are committed to leveraging our breadth of technology. Although Lydall is a portfolio of diverse businesses, conceptually we are ‘One Lydall.’”
He added that the company’s strategy to encourage each business to share technology and application expertise is beginning to generate new market opportunities and internal cost-management benefits. For example, Lydall’s automotive heat shield technology is being applied to its industrial applications, and its internal collaboration on fiber processing technology is enabling the company to address new opportunities in its filtration business.
Similar to several other leading roll goods producers, Lydall expects its Lean Six Sigma initiative to benefit future growth. “Management of costs and improved efficiencies at our operations are essential to realizing Lydall’s underlying profit potential,” remarked Mr. Freeman. “We are focusing on ‘lean’ at all our locations, including the corporate office. We are looking at everything we do and are identifying ways to do it better.”
Mr. Freeman also emphasized the important role played by Lydall’s individual businesses, each of which has its own Mission and Vision Statements and priorities for 2005. “These, although as diverse as the businesses themselves, have a common focus, which forms our corporate road map. Lydall’s Mission is to provide sustainable, long-term benefits for all our stakeholders, which exceeds their expectations. To achieve this we will focus on growth markets, on developing our people and on operating excellence.”
Mr. Freeman added that Lydall’s Corporate Vision is to achieve double-digit, quality growth though a focus on growing markets in which it has expertise as well as through organic growth supplemented with acquisitions. “All our business segments have their role to play in realizing these goals.”
Lydall has also continued to strengthen R&D efforts and increased its investment in new product development by 17% in 2004, supporting a continuous flow of new products. Specifically in the nonwovens automotive market, the company has introduced two new products-DbCore (gradient density) and PolyTack ZeroClearance. Gradient Density DbCore is a lightweight, recyclable acoustical barrier with enhanced noise abatement characteristics capable of tuning out specifically targeted noises. This product is currently employed as a dash insulator on a number of pick-up truck models. PolyTack ZeroClearance is an extension of its ZeroClearance product line that includes shields that adhere via a unique, high-temperature, pressure-sensitive adhesive to a variety of hot spots on the underbody of vehicles. The PolyTack shield is specifically designed to adhere to and insulate plastic (HDPE) components such as plastic gas tanks.
Lydall’s thermal/acoustical segment also includes industrial thermal products. In this area, the company is introducing passive insulating systems into the appliance market. In an effort to provide customers with an in-depth analysis and understanding of their requirements and develop the best solution for their specific application, Lydall has developed a customized suite of multidimensional investigative tools specific to the appliance industry.
Leveraging its strengths to realize opportunities has been a key theme for Lydall. Going forward, the company’s focus will continue to be primarily on the introduction of existing technologies into new markets. “Our strengths,” said Mr. Freeman, “lie in our breadth of technology, our ability to form strategic alliances, our plans for geographical expansion, our innovation, and, at the heart of everything, the knowledge and experience of our people.”
Sales: $126 million
Description: Key Personnel
W. Leslie Duffy, chairman of the board, David Freeman, president and CEO; Christopher Skomorowski, executive vice president and COO; Thomas Smith, vice president, chief financial officer, and treasurer; Mona Estey, vice president—human resources; Mary Tremblay, vice president, general counsel, and secretary
Plants
Rochester, NH; Saint Rivalain, France; Winston-Salem, NC; Hamptonville, NC; St. Johnsbury, VT; Green Island, NY; Ossipee, NH; Meinerzhagen, Germany; Saint-Nazaire, France
Major Markets
Thermal and acoustical shields and insulation, high-efficiency air and liquid filtration media, bioprocessing and specialty blood and cell therapy products
Brand Names
Lytherm, Manniglas, Manniweb, Affinity, ZeroClearance, dBLyte, Lydair, Actipure, AcuPore, AMS, CRS Wrap, Cryotherm, dBCore, LyPore, BioPak
With annual nonwoven sales up 5% to $126 million in 2004, Lydall Inc., Manchester, CT, reported growth and improved profitability in many of its businesses, particularly nonwoven products. The majority of Lydall’s focus is split across two product sectors, with thermal/acoustical sales representing 66% and filtration/separation sales making up 24% of Lydall’s total business for the first quarter of 2005.
Lydall’s recent sales and profitability gains were overshadowed by the diversion and impact on profitability of strategic actions to consolidate its domestic automotive operations and expand its position in Europe. Results were also affected by the difficulties suffered by the vital fluids operation. In the first quarter of 2005, Lydall’s filtration/separation segment sales declined compared with the same quarter of 2004 while its thermal/acoustical segment sales increased slightly, with all businesses in that segment contributing to growth.
Commenting on current market conditions was David Freeman, Lydall president and CEO. “The global nonwovens industry is a very dynamic and competitive landscape. Lydall’s ability to differentiate itself relies heavily on rapid identification and execution of optimized solutions for ever-evolving filtration and thermal/acoustical applications.”
Another core strategy has been geographic expansion, which has been the focus of much of Lydall’s capital investments over the past two years. In 2004, the company constructed a state-of-the-art automotive thermal/acoustical plant in Saint-Nazaire, France. The new facility, which was officially opened in September 2004, is strategically located to complement its operations in Germany, enabling the company to service all major European automotive manufacturers. According to company reports, the new operation is meeting expectations and doing well.
Lydall is also looking to expand its non-automotive businesses geographically. “Building on our worldwide base for filtration products as well as exploring geographic growth opportunities for active and passive thermal/acoustical product lines will be an important focus in the years ahead,” predicted Christopher Skomorowski, executive vice president and COO.
Currently the company runs operations in New Hampshire, North Carolina, New York, Vermont and Virginia as well as in Germany and France. Lydall also operates sales offices throughout the U.S., Europe, and Asia. The company supplies products worldwide, particularly its active thermal control units and nonwoven air filtration media and cryogenic insulation products.
Acquisitions have also played an important role in Lydall’s growth, although recently the company has been internally focused, dealing with restructuring and optimizing operations. Looking ahead, Lydall considers itself in acquisition mode and plans to concentrate on relatively small, profitable opportunities to augment existing non-automotive products and technologies.
In the area of new products, during 2004 Lydall recorded a 28% rise in sales of products introduced within the previous three years. “The continuous flow of new products and the introduction of existing technologies into new markets have always been key drivers of our growth,” stated Mr. Freeman. “Also, we are committed to leveraging our breadth of technology. Although Lydall is a portfolio of diverse businesses, conceptually we are ‘One Lydall.’”
He added that the company’s strategy to encourage each business to share technology and application expertise is beginning to generate new market opportunities and internal cost-management benefits. For example, Lydall’s automotive heat shield technology is being applied to its industrial applications, and its internal collaboration on fiber processing technology is enabling the company to address new opportunities in its filtration business.
Similar to several other leading roll goods producers, Lydall expects its Lean Six Sigma initiative to benefit future growth. “Management of costs and improved efficiencies at our operations are essential to realizing Lydall’s underlying profit potential,” remarked Mr. Freeman. “We are focusing on ‘lean’ at all our locations, including the corporate office. We are looking at everything we do and are identifying ways to do it better.”
Mr. Freeman also emphasized the important role played by Lydall’s individual businesses, each of which has its own Mission and Vision Statements and priorities for 2005. “These, although as diverse as the businesses themselves, have a common focus, which forms our corporate road map. Lydall’s Mission is to provide sustainable, long-term benefits for all our stakeholders, which exceeds their expectations. To achieve this we will focus on growth markets, on developing our people and on operating excellence.”
Mr. Freeman added that Lydall’s Corporate Vision is to achieve double-digit, quality growth though a focus on growing markets in which it has expertise as well as through organic growth supplemented with acquisitions. “All our business segments have their role to play in realizing these goals.”
Lydall has also continued to strengthen R&D efforts and increased its investment in new product development by 17% in 2004, supporting a continuous flow of new products. Specifically in the nonwovens automotive market, the company has introduced two new products-DbCore (gradient density) and PolyTack ZeroClearance. Gradient Density DbCore is a lightweight, recyclable acoustical barrier with enhanced noise abatement characteristics capable of tuning out specifically targeted noises. This product is currently employed as a dash insulator on a number of pick-up truck models. PolyTack ZeroClearance is an extension of its ZeroClearance product line that includes shields that adhere via a unique, high-temperature, pressure-sensitive adhesive to a variety of hot spots on the underbody of vehicles. The PolyTack shield is specifically designed to adhere to and insulate plastic (HDPE) components such as plastic gas tanks.
Lydall’s thermal/acoustical segment also includes industrial thermal products. In this area, the company is introducing passive insulating systems into the appliance market. In an effort to provide customers with an in-depth analysis and understanding of their requirements and develop the best solution for their specific application, Lydall has developed a customized suite of multidimensional investigative tools specific to the appliance industry.
Leveraging its strengths to realize opportunities has been a key theme for Lydall. Going forward, the company’s focus will continue to be primarily on the introduction of existing technologies into new markets. “Our strengths,” said Mr. Freeman, “lie in our breadth of technology, our ability to form strategic alliances, our plans for geographical expansion, our innovation, and, at the heart of everything, the knowledge and experience of our people.”