Gibraltar Packaging Group, Inc. (PACK)
Interview with: Walter Rose, Chairman and CEO
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Gibraltar Packaging Group has built a
unified, service oriented team and is concentrating on maximizing their existing
production facilities
Containers & Packaging
Basic Materials
(OTC: PACK)
Gibraltar Packaging Group,
Inc.
Walter Rose
Chairman and
Chief Executive Officer
Interview conducted by:
Lynn Fosse, Editor
CEOCFOinterviews.com
March 2003
Gibraltar Packaging Group, Inc (OTC:PACK) designs, manufactures, and markets packaging
products nationwide for a diverse group of industries. Gibraltar has three
manufacturing facilities, Great Plains Packaging in Hastings, Nebraska; Standard Packaging
& Printing in Mount Gilead, North Carolina; and Flashfold Carton in Fort Wayne,
Indiana. Each of these facilities specializes in the manufacture of folding cartons.
In addition to folding cartons, the Great Plains Packaging facility also
specializes in litho-laminated and corrugated cartons, and the Standard Packaging &
Printing facility also specializes in flexible packaging products. “Our total focus right now is improving and increasing the amount of
production in our existing plants,” states Mr. Walter E.
Rose, chairman and CEO of Gibraltar. Getting the management team in place is part
of the process. Mr. Rose explains, “I think this is a service driven business and it is no better than
the people that we have. Our biggest concerns are having good people at the senior
management level, hiring and training good people at the lower levels, and creating an
atmosphere where people are very much customer driven and very conscience of the customer
service and quality we are delivering to our customers. That is our real focus. Building
the company is to build that kind of a unified team, and I think we’ve made good
strides in the last few years getting that team built. Our Chief Operating Officer,
Dick Hinrichs, is a veteran of the industry. He has been in this business his whole life
and knows it inside and out. He has very effectively built a team of people under him that
think like he does, which is customer service and quality.” Gibraltar is
differentiated from their competition by their customer service. “We
are able to react quickly to the customer’s need, which is why the customer
doesn’t need to carry any inventory. Our delivery system and the ability for us to
turn product quickly and respond to customers needs is an important ingredient in our
customer service,” says Mr. Rose. “ Customers come to us because of our
reputation of being a high-quality and high-service level supplier. They hear about
us from other people in the industry; word of mouth is very important to us.”
When asked what shareholders and potential investors should know about Gibraltar, Mr. Rose
responded, “Number one they should look at us and look at our
current trading price. We have reeled off three straight quarters that are in the
.13 to .15 cent EPS area and expect to continue to operate at this level. We do not
make forecasts, but we want to tell the public that we are optimistic and see ourselves
continuing along this line. I think at the current trading price of $2.50 to $2.80 the
shares are tremendously undervalued. The other thing I would say is we are continuing to
pay our debt down and that alone is increasing shareholder value and increasing our
earnings per share. In addition, we are increasing sales without adding new plant
capacity, only relatively minor amount of equipment additions, so the leveraging of
existing plants will all allow us to continue to increase earnings as we move into the
future. I think you have a combination of an undervalued stock and an
opportunity to increase earnings, which I think is a tremendous opportunity for
investors.”
The four product lines that Gibraltar's divisions manufacture complement each other, and
enable the company to service multiple packaging products for many of its customers.
Gibraltar presently markets its products to a variety of industries including the
following: food, paper and allied, pharmaceutical and medical instruments, textiles,
automotive, household, tobacco, and industrial products.
Gibraltar’s three facilities are ISO 9001 certified and have received other
recognition for the quality packaging products they produce. In addition to
high-quality products, Gibraltar’s extensive service capabilities include:
award winning structural design, graphics support, inventory management systems,
customized reporting, and Just-In-Time delivery.
To
find out more about: Gibraltar
Packaging Group, Inc.
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