Based on its recent analysis of the SMT reflow soldering market, Frost & Sullivan recognizes Heller Industries with the 2010 Global Frost & Sullivan Award for Company of the Year in recognition of its strong implementation of a robust growth strategy and innovative business processes. As a result, Heller Industries managed to increase its market penetration and value to customers even though the economic downturn.
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While Heller Industries' primary strategy has been to focus on its core business (thermal platform) even as it seeks profitable niches as growth derivates, during the economic slowdown, the company displayed its flexible business model and business acumen by venturing into new derivatives such as solar market (launched solar drier in collaboration with DEK) and LED markets.
"Retaining focus on its core business, while fueling growth by seeking growth opportunities, has helped Heller Industries retain its leadership position," says Frost & Sullivan Research Analyst Lavanya Rammohan. "The company has consistently provided value-added services to its customers by remaining in the forefront of technological and process innovation."
When the impact of global economic downturn spurred many competitors to slash R&D budgets, Heller Industries strived rigorously to accelerate innovation to deliver promising reflow systems ahead of competitors. As opposed to creating a technology roadmap in house, the company partners with customers to generate products best suited to cater to market dynamics. Another major differentiator for the company is its close network of customer base. Heller Industries engages actively with customers and utilizes customer advisory boards to develop and maintain deep understanding of customer needs. This has helped the company by providing unparalleled value add to customers by merging its expertise to deliver on customer needs.
Heller Industries also prides itself in providing virtually maintenance-free systems with the development of New Cool Pipe Flux Removal systems. The valuable decrease in downtime for cleaning and maintenance has been applauded by the company's customers. Heller Industries boasts of cost savings of approximately $7,000-$12,000 each year in maintenance and downtime costs. Customers also benefit from the lowest cost of ownership in the form of reduced material usage related to nitrogen and electricity consumption.
Heller Industries also exploits its global footprint to deliver products at the lowest possible landed cost and a higher return on investment for its customers. Its strategic locations not only help the company provide best-in-class "timely" service, but also validate its keen business knowledge of choosing the right manufacturing location. This has paid Heller Industries rich dividends enabling it to redesign business goals suited for any market conditions.
To further increase visibility, the company has ventured into strategic partnerships with equipment vendors that promote and market its products. For instance, it entered into a partnership with ECD to develop industry-first integrated CpK software that provides customers with real-time oven CpK values.
Overall, the continuous focus on driving technology, providing low-cost ownership for customers, and increasing focus on eco-friendly products have paved the way for Heller Industries' continuous bid for market leadership. The company is set to grow at an all-time high of 114.0 percent by the end of 2010 and has set up a second factory in China to cope with increasing customer demand.
"In a market scenario, where most manufacturers use representatives or agents to position themselves in regional markets, Heller Industries differentiates itself by having its own company base in regional markets, using local talent and knowledge base to meet each region's unique requirements," notes Rammohan. "This increases customer confidence and loyalty. Heller Industries call this approach 'Glocalization' – having a global reach with a local presence."
For sustaining its position in the midst of stiff competition through its unique value proposition for its customers – on-time delivery, cost reductions, end-to-end solutions and, above all, industry best-quality assurance – Heller Industries is the worthy recipient of the 2010 Global Frost & Sullivan Award for Company of the Year in the SMT reflow soldering market.
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in growth strategy and its implementation. The award lauds innovation in products and technologies and the resulting growth in value for customers and overall market penetration.
Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About Heller Industries
Heller Industries is the global market leader in oven technology, and supplies solutions for electronics manufacturers and assemblers worldwide. As pioneers in developing convection oven technology, Heller uses advanced manufacturing and production systems to supply both standard and special ovens cost-efficiently with rapid delivery. For additional information, please visit www.hellerindustries.com.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents. To join our Growth Partnership, please visit http://www.awards.frost.com.
SOURCE Frost & Sullivan
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