Nordam: ‘The Low Point…Is Behind Us’
It’s been two years since the Nordam Group laid off 63 employees, primarily from the interiors and structures operations unit responsible for business aviation cabin components. It wasn’t the first layoff and brought the total reduction in force to about 7 percent of the company’s employee base, including salaried, hourly and temporary contract employees as well as losses due to attrition.
“Nordam is progressing through a typical aerospace business cycle, and we believe the low point of that cycle is behind us,” Ken Lackey, the company’s executive chairman, told AIN. “The year ahead will continue to show improvement and 2012 should be the beginning of the next major growth cycle for aerospace and Nordam. We have a substantial backlog of programs that will drive future growth, and a management team and board capable of taking advantage of strategic opportunities that will be available to Nordam in the years ahead.”
Nordam’s CEO, Bill Peacher, said the company continues to hire for positions that make strategic sense. “Replacing the positions lost to the layoffs a couple of years ago isn’t necessarily our objective, but rather we strive for staffing levels that allow us to maintain both efficiency and customer satisfaction. With some 2,000 employees worldwide, we are well poised to take advantage of the opportunities we foresee in the years ahead,” Peacher said.
According to Peacher, Nordam is reorganizing at the highest levels. Meredith Siegfried, currently COO of Nordam’s repair group, will become president of Nordam with responsibilities for all of Nordam’s manufacturing and repair operations and its supply chain.
T. Hastings Siegfried, currently COO of Nordam’s transparency group, will become vice chairman of Nordam and chairman of its governance committee in addition to his current duties. He will also assume responsibility for Nordam’s government affairs and community relations.
Steve Pack, Nordam’s COO for the manufacturing group, will continue to be responsible for all of Nordam’s manufacturing operations, which are expected to experience significant growth in the years ahead.
Finally, Basil Barimo, v-p of global engineering and quality for the repair group, will assume the additional role of general manager for Nordam repair division, with the new title of vice president and general manager, Nordam repair division and global technical operations.
“The reorganization represents the continuation of a process begun two years ago to prepare key leaders for succession to all major roles in the corporation,” Peacher said.