McNeil Industries Wins MAGNET Competitiveness Challenge
Painesville, Ohio – November 15, 2007 – MAGNET, a manufacturing advocacy group representing Northeast Ohio, awarded McNeil Industries its first-ever “Competitiveness Challenge” award for the small manufacturing business category, covering businesses with annual revenues of $25 million or less.
The award recognized McNeil Industries’ nine-month effort to meet or exceed goals for six major strategic objectives involving sales growth, margins, shipments, on-time delivery, receivables, and costs of quality and brand programs on a year-over-year basis. The company’s winning entry was selected by a panel of judges from a field of 13 entries overall.
In accepting the award, the company’s president and CEO, Randall J. McNeil, attributed the company’s ongoing success to financial discipline, teamwork, and a long-term commitment to a rigorous strategic planning process. The process, based on The Rockefeller Habits by Verne Harnish, involves a routine of quarterly planning and coaching, data collection and measurement, and regular communications throughout the organization.
With annualized growth exceeding 20% in each of the last six years, McNeil Industries ranks as one of the fastest growing manufacturing businesses in the Midwestern United States. Earlier in 2007, the Private Companies’ Index (PCI), an index of rapidly growing, privately held companies in the US, named the company one of its “Top 5” growth companies for the second quarter.
McNeil Industries delivers specialty products, systems, and services recognized for superior performance. Its unique MAXAMÂ® plain, spherical, and cylindrical bearings offer extended service life, even under the harshest conditions of load, moisture, heat, and contamination. McNeil Guide Systems products—pins, bushings, bearing cages and spare parts—are widely used and trusted by the precision stamping industry, while Deburring Systems automate secondary operations and help manufacturers improve product throughput and quality. The company also offers precision machining services, industrial seals, and value-added services to customers worldwide. For more information, visit www.mcneilindustries.com.