The Eastern Company
The Eastern Company manages three core business platforms that design, manufacture and sell unique engineered solutions across a variety of industrial end markets. These businesses operate in markets with numerous long-term macroeconomic growth opportunities. The Eastern Company actively facilitates prudent organic growth investment and strategic acquisitions so that each business is well positioned to capitalize on these growth opportunities within their respective markets. The Eastern Company operates from locations in the U.S., Canada, Mexico, U.K., Taiwan and China.
Nasdaq: EML
IR Website: https://www.easterncompany.com/investors-overview2.php
Headquarters: Naugatuck, Connecticut
Content provided by the Eastern Company on 2-21-22.
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Summary
The Eastern Company manages industrial businesses that design, manufacture and sell unique engineered solutions to industrial markets. We believe Eastern’s businesses operate in industries with long-term macroeconomic growth opportunities. We look to acquire businesses that produce stable and growing earnings and cash flows. Eastern may pursue acquisitions in industries other than those in which its businesses currently operate if an acquisition presents an attractive opportunity.
Eastern focuses on proactive financial, operational, and strategic management of its businesses in order to increase cash generation, operating earnings and long-term shareholder value. Among other things, Eastern monitors financial and operational performance of each of its businesses and instills consistent financial discipline. Eastern’s management analyzes and pursues prudent organic growth strategies and works to execute attractive external growth and acquisition opportunities. In addition, Eastern recruits and retains talented managers to operate its businesses. We look for leaders who are accountable, maintain cost discipline, act quickly, and build strong followership.
Engineered Solutions
The Engineered Solutions segment consists of Big 3 Precision, Eberhard Manufacturing Company, and Velvac. These businesses design, manufacture and market a diverse product line of custom and standard vehicular and industrial hardware, including turnkey returnable packaging solutions, access and security hardware, mirrors, and mirror-cameras.
Big 3 Products and Big 3 Mold’s turnkey returnable packaging solutions are used in the assembly processes of vehicles, aircraft and durable goods and in the production processes of plastic packaging products, packaged consumer goods and pharmaceuticals. Big 3 Products works with leading manufacturers to design and produce custom returnable packaging to integrate with their assembly processes. Big 3 Mold is a global leader in the design and manufacture of blow mold tools.
Eberhard is a global leader in the engineering and manufacturing of access and security hardware. Eberhard offers rotary latches, compression latches, draw latches, hinges, camlocks, key switches, padlocks, and handles among other products, as well as comprehensive development and program management services for custom electromechanical and mechanical systems designed for specific original equipment manufacturers (“OEMs”) and customer applications. Eberhard’s products are found in an expansive range of applications and products globally.
Velvac is the premier designer and manufacturer of proprietary vision technology for OEMs and aftermarket applications, and a leading provider of aftermarket components to the heavy-duty truck market in North America. Velvac serves diverse, niche segments within the heavy- and medium-duty truck, motorhome, and bus markets.
Diversified Products
The Diversified Products segment consists of Argo EMS. Argo EMS supplies printed circuit boards and other electronic assemblies to OEMs in various industries, including measurement systems, semiconductor equipment manufacturing, and industrial controls, medical and military products.
Investor Presentation
Recent News
The Eastern Company Announces the Retirement of Michael McManus, Director
Dec 20, 2021
The Eastern Company Announces the Sale of Frazer & Jones
Nov 21, 2021
The Eastern Company Reports Third Quarter 2021 Financial Results
Nov 10, 2021
The Eastern Company Announces the Sale of Greenwald Industries
Nov 4, 2021
The Eastern Company Announces Timing of Third Quarter 2021 Earnings Release and Earnings Webcast
Nov 3, 2021
Management Overview
Gus Vlak
Chief Executive Officer, President Director
Mr. August M. Vlak, also known as Gus, has been Chief Executive Officer and President Director at The Eastern Company since January 1, 2016. He has been a management consultant and is a former Senior Advisor to Barington Capital Group, L.P. Mr. Vlak's consulting work focused on growth strategy and operational performance improvement at more than 50 companies - including leading domestic and global industrial enterprises - where he has worked directly with numerous senior management teams and boards of directors. Mr. Vlak was a Consultant at McKinsey & Company, where he was a member of the health care practice. He was an Investment Banker with Lehman Brother's Health Care Banking Group. Mr. Vlak holds a B.A. degree in Economics from Amherst College, where he was elected Phi Beta Kappa, and an M.B.A. from Stanford University.
John L. Sullivan, III
Chief Financial Officer
Mr. John L. Sullivan, III has been Chief Financial Officer of The Eastern Company since December 13, 2006 and has also been its Vice President since January 2, 2000. Mr. Sullivan served as Secretary of Eastern from April 26, 2000 to December 13, 2006 and also served as the Treasurer from January 2, 2000 to December 13, 2006. Prior to that, he served as the Corporate Controller of Eastern.
James P. Woidke
Chief Operating Officer
Mr. James P. Woidke, also known as Jim, has been with The Eastern Company since 2017. Jim was named to his current role of Chief Operating Officer in September, 2020. Prior to assuming this role, Jim led Eastern’s Eberhard Manufacturing Group as Managing Director since 2017. Previously, Jim served as President, Forged and Machined Products Group of Park Ohio Corporation, a diversified international manufacturing public company from 2015 to 2017. Prior to joining Park Ohio, Jim held several leadership positions with SIFCO Industries, Inc., an international public aerospace and energy forging company from 2006 to 2015. Jim was named President in 2014, having served as Executive Vice-President and Chief Operating Officer from 2010-2014. Prior to assuming the COO role, Jim led SIFCO’s Forged and Machined Products group as General Manager from 2006-2010. Prior to joining SIFCO, Jim was the Director of Engineering and Quality, as well as Business Unit Manager, for Anchor Manufacturing Group from 2003 to2006. From 1993 to 2003, Jim held a number of various leadership positions with Lake Erie Screw Corporation, last serving as Director of Manufacturing Operations. Jim holds a B.S. degree in Mechanical Engineering from Case Western Reserve University and an M.B.A. from Cleveland State University.
Risks & Disclosures
This communication is neither an offer to sell nor a solicitation of an offer to buy, nor a recommendation of any securities of the company mentioned herein.
The Eastern Company (the “Company”) and its counsel have reviewed the content of this page as well as the accompanying presentation (“Company Presentation”) displayed on this page. To the best of its knowledge, the Company does not believe this content to be misleading or inaccurate in any material respect, nor does it believe there are any material omissions with respect to such content. The Company does not believe the contents of the page or the Company Presentation to contain any non-public material information.
Information and opinions presented in the Company Presentation are provided by the Company, and b2i digital makes no representation as to their accuracy or completeness. The information contained on this page is not intended to constitute any form of advice, and the information provided is not intended to provide a sufficient basis on which to make an investment decision. It is not investment research, nor does it constitute a research recommendation, as it does not constitute substantive research or analysis. This information is not to be relied upon in substitution for the exercise of independent judgment.
Information, opinions and estimates contained on this page or in the Company Presentation reflect judgments by the Company as of the original date of publication by the Company and are subject to change without notice. Past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied is made regarding future performance.
A complete description of the risks and uncertainties relating to the Company and its securities can be found in the company's filings with the U.S. Securities and Exchange Commission available for free at www.sec.gov.
Information on this page may relate to penny stocks, which may also be referred to as low-priced stocks. Penny stocks are low-priced shares typically issued by small companies. Penny stocks involve greater than normal risk, they may be less liquid than other stocks (i.e., more difficult to sell), and there may be less reliable information available regarding such stocks. Investors in penny stocks should be prepared for the possibility that they may lose their entire investment.
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