Gerber Plumbing Fixtures LLC announced it is pleased to be
the recipient of the 2009 National “Turnaround of the Year Award” for a
mid-size company as honored by the Turnaround Management Association (TMA), an
international non-profit organization with more than 9,000 members dedicated to
corporate renewal.
Gerber was selected by TMA in honor of
its strategic revival from near bankruptcy in 2002, prior to the acquisition of
its assets by Globe Union, to profitable growth in the current global recession.
According to the company, Gerber’s corporate restructuring was led by CEO and
President
Michael Werner, who in 2003 took over
the family-run, 70-plus-year-old company and modernized it while maintaining
its loyalty to the professional trade.
In October 2009, TMA
publicly recognized Gerber’s corporate re-structuring and turnaround success
with increased profits in spite of the economic downturn. Werner accepted the
“Turnaround of the Year” award during the Oct. 8 keynote luncheon at the TMA
Annual Convention in Phoenix,
Ariz.
Source: Gerber Plumbing Fixtures LLC
