Peter Kos
Fort Collins, CO (USA)
Role(s):
C-Level Executive (CEO, CFO, etc.)
Titan Manufacturing
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Startup
Location:
Fort Collins
Industry:
Manufacturing
Year Founded:
2008
Number Employees:
50-100 people
Description:
Titan Manufacturing is a venture formed by radiator industry veterans to exploit specific opportunities in high-margin specialty radiator markets.
The company will specialize in copper/brass radiators and heat transfer products aimed at industrial markets, medium/heavy truck, construction, and marine applications. Its strongest focus will be in the mining and oilfield industrial segments, which fare better than construction and trucking markets during times of recession, and offer significantly higher margin than most radiator markets.
The company’s unique manufacturing process reduces tooling change times to allow automation of high-mix manufacturing, which must currently be performed largely with manual assembly methods. This allows Titan to build radiators to order within 24 hours, which greatly reduces inventory, capital requirements, and lead-times. Combined with the company’s progressive capital management strategies, the low inventory requirements and lower unit cost of the automated process mean Titan has significant strategic advantages over conventional radiator manufacturers, whose tooling, inventory management, and capital structure strategies date back to WWII. Titan views its application of modern manufacturing technology to an old-world industry and its focus on high-margin specialty markets as being its keys to success.
Titan will be built by purchasing existing business units from other companies in the industry, and by starting new business units in strategic locations, especially operations which gain penetration into the profitable oilfield and mining markets.
By both buying and building the requisite business units to make, sell, and service radiators into the targeted markets, Titan expects to reach $20M in sales and a $2M net in 3 years with an initial investment of $6M.