Once upon a time, the Falcon Steel Company had more than a dozen U.S. competitors inside the steel fabrication realm. Today, Falcon’s U.S.-based competitors have been replaced by aggressive offshore rivals. Still, you doubt whether there are many competitors capable of quashing this stubborn middle-market firm’s bold second act.
Over the next 12 months, what are the top priorities for this middle-market business?
Jim Taylor: For us, it’s the recapitalization and bringing new money in, number one. Two, using that new money to help us upgrade some of our equipment processes. Three, finish our enterprise software system. It was started by prior management years ago but never fully implemented. We will have that done by next month. Four is to go out and become very active. We are the only company in the United States that builds lattice, poles, and substations. All our competitors do one or two of the others. We’re the only company that does all three, so we are promoting that.
The last point to show you is about foreign competition. Lattice, that’s those cross-section towers you see. It looks like a big Tinker Toy construction there. There were 14 companies 15 years ago that did that in the United States. Today we are the only American-owned and -operated company that manufactures lattice towers. So we are hanging on to keep that ability and knowledge here in the United States.
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