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MascoTech, Inc. CEO Frank Hennessey Talks About His Firm's Future

20 May 1999

MascoTech, Inc. CEO Frank Hennessey Talks About His Firm's Future

    NEW YORK--May 19, 1999--The Wall Street Transcript has published an in-depth interview with Frank M. Hennessey of Mascotech, Inc. , in which he talks at length about his company's future.
    He says, "MascoTech is a diversified manufacturing company, with world leading metal forming process capabilities and proprietary product positions that serve transportation, industrial and consumer markets. We currently have over 60 manufacturing facilities serving international markets in eight countries."
    He explains, "Our business is comprised of five segments. The first is Specialty Metal Formed products, which represents about 49 percent of our revenue. This segment primarily serves the automotive market. Our second segment is Towing Systems, which represents about 15 percent of our revenue. The third, Specialty Fasteners, is about the same size. Specialty Packaging and Sealing Products represents about 14 percent of our business and Specialty Industrial Products comprises the remaining 7 percent. Total sales for MascoTech in 1998 was $1.6 billion."
    Looking forward, he states, "MascoTech is a company that has demonstrated its ability to grow, to generate high margins and to create superior cash flow. We are clearly recognized as a leader in process technology for metalforming. We clearly have leadership product positions in all of the business segments that we are engaged in and we see a tremendous opportunity for our price earnings multiple to expand. We are a company that has aligned management's interest with those of the shareholders through a very unique compensation and reward programs. We believe that not only have we demonstrated in the past, but we are performing today in a superior fashion that investors should be excited about."

To read the complete interview, go to http://www.twst.com/ceos.htm.

    TWST is a premier weekly investment publication interviewing market professionals for serious investors for over 35 years. TWST Online provides hundreds of free excerpts from our Q&A Interviews, sector-based Online subscriptions, and produces web-based audio CEO Forums through Broadcast.com. The Wall Street Transcript does not endorse the views of any interviewee nor does it make stock recommendations.