Page 19 - Shareholders Report 2023

MARKETS & DIVISIONS

STEEL FABRICATION | MARKET

Performing well above targeted goals, the
Haskell Steel team of PCEs and manufacturing
professionals expended over 115,000 hours on self-
DRINKPAK | CANNED perform and contract services, fabricating more
NIAGARA BOTTLING BEVERAGE MANUFACTURER
MIDDLEBURG, FLORIDA SANTA CLARITA, CALIFORNIA than 5,500 tons of structural and miscellaneous
steel with zero lost-time incidents. The 12th Street
facility in Jacksonville, Florida, increased its labor
CORTEZ | MARKET efficiency 2.2% and reduced overtime by more

The Cortez team achieved remarkable milestones “ The Cortez team delivered than 29% year over year. Additionally, capital
investment continued with new equipment and
despite facing challenges in meeting its financial outstanding performance facility improvements, including the installation
contribution goal. While falling short of the budgeted of six welding positions, upgraded CNC plate
contribution of $1.9 million, Cortez excelled in during the packaging processing, increased overhead cover, 5,500 square
revenue and sales, setting historical records in both installation at the feet of additional concrete apron, new offices
categories. Sales soared to $41 million, a 44.2% for production and shipping and logistics, and a
year-over-year increase, while revenue reached Niagara Bottling Plant in training center for the PCE team. In the second
$32.3 million, surpassing the prior record of $25.9 Middleburg, Florida. Their year of operations, the miscellaneous metals shop
million by 24.7%. Despite record-breaking sales and produced an incremental contribution increase
revenue figures, margin was lower than anticipated, patience, flexibility and of $360,000, surpassing the budgeted payback
standing at 4% against a budget target of 8%. The unwavering commitment period by one full year. The team contributed $60.9
team expended 165,000 hours performing work for million in revenue and $13.5 million in contribution
key customers such as Krones, Niagara and Westrock to cleanliness and safety in 2023, increasing margins from 8.6% to 16.4%.
Coffee. Notable achievements include securing the impressed both our team
first Haskell project since acquisition, providing and the customer. Thank selection of clients
process piping installation for Project Alpha, and
joining forces with Haskell Steel for a joint project you for a job well done.”
supplying pipe racks. Additionally, 2023 served as a
DIRK ROSENTRETER, PROJECT LEAD, KRONES
year of integration for Cortez into the Haskell systems,
with a focus on alignment of business practices,
JACKSONVILLE AVIATION AUTHORITY
accounting software transition and team integration (JAA) BOEING MAINTENANCE
HANGAR / PROJECT SHOCKWAVE
to streamline and enhance operational efficiency. JACKSONVILLE, FLORIDA
selection of clients

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2 2023 Annual Report to Shareholders ◆ Haskell 17
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