“I’m really excited about being here and being part of the company,” Joe Raver, Hillenbrand Inc. president and chief executive officer, said Feb. 26 during the annual shareholders meeting.
“Smooth transitions are really important, and I thank Ken Camp,” the former president and CEO who retired in September 2013, “as well as my team and the board for the warm welcome I received coming into this role.”
HI had a record-setting fiscal 2013, growing revenue to nearly $1.6 billion, according to the annual report. The company has two segments: Batesville, a leader in the North American death care products industry; and the Process Equipment Group, which includes acquisitions made over the past few years, including K-Tron, Rotex and Coperion. “They were all marked by good growth,” the president observed.
“Batesville has great talent and is a fantastic business. It has a strong financial foundation .... Its revenue grew nicely,” up 2 percent to $621 million. “Batesville is a very important part of our business going forward,” he stressed.
“We’ve done a number of acquisitions, and our revenue has grown.” With the addition of Coperion in 2012, the Process Equipment Group generated strong growth last year, contributing $933 million. “Our strategy is to take these terrific businesses and make them better by implementing our core competencies of lean, intentional talent development and strategy management.”
He pointed out, “Five years ago, we were 100 percent Batesville .... now about two-thirds is the Process Equipment Group.”
In 2012, Batesville contributed more than 60 percent of the total revenue for HI, and 80 percent of the company’s consolidated revenue was generated domestically. Now the Process Equipment Group contributes 60 percent of the total revenue, with more than 40 percent of revenue coming from outside the U.S., according to the 2013 HI Annual Report.
Raver emphasized, “We’ve had a change in leadership, but not a change in strategy .... Our management team is excited about the business we have today and the future of the business.
“We take the investments seriously and want to be good stewards of your capital.”
Diane Raver can be contacted at email@example.com or 812-934-4343, Ext. 114.