A.M. Castle slates plan to cut costs in new year
Jan 17, 2013 | 05:00 PM
| Corinna Petry
Tags
A.M. Castle & Co.,
metals distribution,
restructuring,
facility consolidation,
headcount reduction,
profit improvement,
Scott Dolan,
commercial organizational structure
CHICAGO — Metals distributor A.M. Castle & Co. plans to restructure operations, including closing facilities and reducing head count, in order to improve profits by the end of the year, president and chief executive officer Scott Dolan told AMM.
The restructuring actions, which are expected to generate $20 million of operating profit improvement in calendar year 2013 before charges, aim to simplify how Castle does business, streamline inventory, reduce waste and improve on-time performance, "which we expect will help us increase revenue while reducing costs," he told AMM.
As part of the plan, Castle—which operates 30 branches in North America, Europe and Asia—will close service centers in Kent, Wash.; Gardena, Calif.; Orange, Conn.; Kansas City, Mo.; and Letchworth, England, but will maintain local sales offices to service customers of those branches, Dolan said.....
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