Shiloh advances product strategy with U.S. tech center, acquisitions
Detroit, MI - Laser welding and metal stamping supplier Shiloh Industries plans to open a new, 40,000-sq-ft. technical center in Michigan as part of its efforts to reinvent itself and grow with its automaker customers. The new facility will also include $11 million worth of equipment.
CEO Ramzi Hermiz, who has been in his role since August 2012, set the company on a growth track, as it rose from $580 million of revenue in 2012 to $800 million this year and expects to exceed $1 billion in 2015. Income also steadily increased to $21.6 million in 2013 from $13.5 million in 2012.
Last year, General Motors accounted for about 21 percent of Shiloh's revenue and Chrysler Group accounted for another 16 percent, according to the company's annual 10-K report. No other customer topped 10 percent, the company says.
The Sept. 30, 2014 acquisition of Radar Industries for $57.9 million provided Shiloh with two stamping plants in Michigan and another in Celaya, Mexico. In August 2013, the company acquired Contech Castings LLC for $54.4 million. That acquisition turned up new contracts with the Detroit 3 and allowed it to expand its Tennessee business with Volkswagen AG.
Shiloh offers various door blanks to dampen noise and various stampings and assemblies in steel, aluminum, and magnesium. Through its laser welding process, the company can offer different gauged metal to increase strength near door fasteners without adding weight to the rest of the blank.
Industrial Laser Solutions Editors
We edited the content of this article, which was contributed by outside sources, to fit our style and substance requirements. (Editor’s Note: Industrial Laser Solutions has folded as a brand and is now part of Laser Focus World, effective in 2022.)