Joe Zeno once mortgaged his house to buy manufacturing equipment while owning a minority interest in ACS Industries Inc. It’s that kind of risk and dedication that have helped him take the attachment solutions company to new levels of success in recent years.
Zeno has succeeded in developing, improving and protecting many industry-changing technology advances, and he has developed ACS into a fully integrated, multi-plant manufacturer. He also reinvented the company’s business plan in 2008 around the guiding principles of “defend, innovate, grow” in response to a severe decline in the construction equipment industry.
His innovative approach to business provided the foundation for ACS to resume its sales growth and add employees in the second half of 2009. He’s also led the company in remaining consistently profitable throughout the recession and increasing year-over-year sales in 2010 in a core industry. Raw materials costs increased significantly, but he wasn’t able to raise prices; despite that, EBITDA is projected to grow in 2011. The company has also paid out significant cash dividends to its shareholders over the past three years while making major investments in physical plants and other vital capital expenditures. Last year, employees even received an increase in overall compensation through wage increases and gain sharing.
Both Zeno and ACS have been praised as a result of these and other company initiatives. In 2005 and 2006, the company was recognized for its unique application of technology to the business by Start IT magazine. The company was also recognized as the Kent business of the year in 2005, and Zeno was recognized in 2008 as businessperson of the year by the College of Business and Graduate School of Management at Kent State University. In 2010, he was recognized as a visionary at the Smart Business Innovation in Business conference for Northeast Ohio.
How to reach: ACS Industries Inc., (800) 321-2348 or www.acs-coupler.com
