Replacing the previous president of Preco Inc. wasn’t a cake walk for Timothy Burns. His predecessor had left the company’s divisions feuding and alienated from one another, and after departing abruptly, it was up to Burns to pick up the pieces.
Although Burns has been with the company for 20 years, in his five years as Preco’s president, he’s faced some of his biggest challenges, specifically a recession that caused a 55 percent decline in the machine tool industry in 2009. Burns’ stance on continuous improvement and innovation has been critical in helping the company survive the economic downturn and stay on track for future profitability.
He has led the charge on innovation at Preco on a number of fronts, starting back when he first joined the company in 1991. Burn already knew that Preco needed to expand either by strategic alliance or through acquisition, so he spearheaded two major acquisitions to build out Preco’s laser-related capabilities. He also led a diversification strategy to expand Preco’s equipment offerings, services and geographic distribution with the goal of making the company more competitive and flexible in meeting customer demands. Though it meant reaching outside of the company’s comfort zone and required significant resources, the diversification strategy paid off long term and was vital in helping the company stay viable in its industry.
Today, Preco is one of the most sought out providers of innovative equipment and contract manufacturing solutions. It is also the choice provider of innovation industrial processing and automation technologies, such as die-cutting and laser-based manufacturing.
One of the principles that Preco abides by is: “Do what others are not already doing,” and Burns has dedicated significant time and effort to ensure his employees operate by that guideline. By inspiring his team to develop new ideas and new ways of thinking, Burns has united the company’s factions around the goal of capitalizing on new opportunities to make Preco more nimble and attuned to customer needs.
How to reach: Preco Inc., (913) 541-0066 or www.precoinc.com