International Holdings Inc. is planning layoffs and a
wide-ranging corporate restructuring that appears to be focused
largely on its Allied Tube & Conduit Corp. business.
The move comes as the Harvey,
Ill.-based company grapples with poor business conditions while
also mulling a possible initial public offering (IPO) within
the next few years.
The changes will see the company
organized into three business units: Allied Tube & Conduit,
AFC Cable Systems and Unistrut, which makes metal framing
systems. The company said the realignment will go into effect
"Our North American pipe, tube
and conduit business remains under intense competitive
pressure, and some favorable developments we have seen in the
last year within a few of our other businesses now look
unlikely to continue," the company said in a news release
signed by Atkore president and chief executive officer John
He said Atkore was looking to
cut its global work forceincluding union and non-union
positionsby about 5 percent using a combination of
voluntary and involuntary reductions. Employees to be laid off
will receive notice by Aug. 20 and will leave the company no
later than Sept. 28, he said.
Atkore employs about 3,100
workers at 23 manufacturing and distribution facilities,
according to its website.
The decision to make the cuts
was not one Atkore made lightly, Williamson said, but the
company is entering a period "of little or no improvement in
market conditions and business activity that may stretch into
late 2013 or later."
As part of a host of changes at
the company, Williamson said he would lead Allied until the
organizational structure of the business unit had "solidified"
and a new permanent president could be named.
Atkore chief financial officer
Jim Mallak will assume the additional role of vice president of
finance at Allied on an interim basis, and Atkore vice
president of human resources Kevin Fitzpatrick, information
technology director Ken Gonzalez and vice president of sourcing
Steve Robins will serve in the same positions for Allied on an
interim basis while continuing to hold their current roles.
In addition, Kristin
Johnson-Holz will become Allieds vice president of
marketing, Tom German will become Allieds vice president
of operations, Ed Kurasz will assume the role of Allieds
executive vice president for sales, and Gary Uren will be
promoted to Atkore vice president of business development and