Case #835

$50 million mold manufacturer

This Canadian manufacturer makes thin-wall molds for the plastic injection molding industry. The holding company, comprised of three subsidiaries, faced EBITDA declining business while saddled with $36 million in total debt.

The Morris-Anderson & Associates crew was brought in for an assessment of liquidity, cost reduction opportunities and management. We developed a 13-week rolling cash forecast, reorganized finance organizational structure into CFO and Controller from three previous controllers, and consolidated two buildings in Toronto into one, while consolidating many common services across two of the companies. Simultaneously, we performed a market study, selected headcount reductions, developed a weekly status report with orders, shipments, backlog, quotes, overtime, cash and availability, AR aging, and AP aging.

Thanks to our efforts, the company's leaner and more efficient management structure, cost structure and liquidity mean that we’re no longer needed. Today, the company is very healthy.