The Company retained Fort Dearborn to develop an operating plan, identify and implement profit improvement initiatives, and secure new financing.
With Fort Dearborn’s assistance, the Company successfully:
• outsourced production of component parts overseas
• completed a reduction in force, and
• reduced operating expenses in its Mexican plant
These improvements generated $1.5 million in annual savings and returned the Company to profitability.
Fort Dearborn’s industry expertise in the automotive sector and deep operating experience enabled the financing transaction to be completed expeditiously and on favorable terms. The entire assignment, from identifying and implementing operating improvements to completing the financing, was accomplished within 120 days of Fort Dearborn being retained.