Hillenbrand Inc (HI)

Get HI Alerts
*Delayed - data as of Aug. 28, 2015  -  Find a broker to begin trading HI now
Exchange: NYSE
Industry: Consumer Durables
Community Rating:
Symbol List Views
FlashQuotes InfoQuotes
Stock Details
Summary Quote Real-Time Quote After Hours Quote Pre-market Quote Historical Quote Option Chain
Basic Chart Interactive Chart
Company Headlines Press Releases Market Stream
Analyst Research Guru Analysis Stock Report Competitors Stock Consultant Stock Comparison
Call Transcripts Annual Report Income Statement Revenue/EPS SEC Filings Short Interest Dividend History
Ownership Summary Institutional Holdings Insiders
(SEC Form 4)
 Save Stocks

Hillenbrand, Inc. (HI)

Investor Briefings to Discuss the Recent Acquisition of Coperion

December 11, 2012 12:30 pm ET


Chris Gordon – Director-Investor Relations

Kenneth A. Camp – President and Chief Executive Officer

Guenter Bachmann – President-Coperion

Joe A. Raver – President-Process Equipment Group

Cynthia L. Lucchese – Chief Financial Officer


Chris Gordon

Welcome everyone and thank you for joining us today. We are very excited to share Coperion, our newest operating company with you.

Before we get started though, I need to remind you that during the course of today’s discussion and question-and-answer session, we may make some projections or other forward-looking statements that are subject to the safe harbor provisions of the Securities Laws regarding future events or financial performance of the company.

We caution you that these statements are only our view of the future and that actual results may differ materially. We also alert you to the risks described in the documents we file with the Securities and Exchange Commission, such as our annual and quarterly reports on Forms 10-K and 10-Q. We do not undertake any obligations to update or correct forward-looking statements.

So with us today are Ken Camp, our President and Chief Executive Officer, Guenter Bachmann, who is the President of Coperion, Joe Raver, our Hillenbrand Process Equipment Group President and Cindy Lucchese, our Chief Financial Officer. That is the order in which you’ll hear them speak as well.

With that it’s my pleasure to turn the presentation over to Ken Camp.

Kenneth A. Camp

Thanks Chris. Thanks everyone for being here today. We bought the big team out here to see all you guys. So by the times it’s done, the stock market will be open little while, so you can – these lunches aren’t cheap in New York. I’ve got just a few slides to talk to you about and what we really want to do today is just not hammer you with a lot of slides, you all got a little book there you can takeaway, it’s always I think more instructive for those who are here and certainly more fun for us to spend more time on the Q&A section and I was just going through a bunch of slides, or making the assumption everybody here can read, I won’t read the thing to you especially this first one that’s up right now for those of us who are on the webcast, this is one that looks, has the shape sort of like the pantheon and my Greek, Senior Vice President of M&A has given me the bail I exercise, sometimes make a Greek joke about that’s as close as we get to Greece here with the pantheon shape because our results are a lot better than there.

But what this really lays out is how we think about the strategy, we have a quite people at Hillenbrand and we like to use bottoms up quantitative strategy process. This is the bedrock of it. This is how it really works. And every one of our operating companies and every part of those operating companies follow this process to quantitatively develop their strategy and it's an annual process, very well formulated and it enables us to test them as they go through their strategy elements. So we often share that with as we do like to share with investors so they can see how we think about this process.

And when we decided, we actually did the spin in 2008, we decided to do it about a year and a half before that; did a lot of work before we said anything about the possibility of separating, what was then Hillenbrand industries and taking the healthcare business and the death care business and make them separate. We went through a lot of introspection about, what are we good at and what are we not good at, and frequently that not good at part is more important for you us to know about ourselves than the good at part.

And so we came up with three exportable core competencies that we could export out of what was then the funeral product business, Batesville Casket Company was our only line of business at the time of the spin. We were good at sales and marketing in that industry, but we didn't think that was an exportable talent.

So those three things which I won't take you through a lot strategy management that I mentioned, what we call intentional talent development, we manage the careers of high potential people at the Hillenbrand level. And we rotate them through different assignments, we have them do a wide variety of things they don't stay right in their field whether it's finance or engineering we move them around. And we believe very deeply in promoting from within, and that's been how most of our careers have gone. But the reality is it also helps us attract and retain the best people when they know we are working on their careers. And that is now part of how the OPCOs function.

And the third element is lean business. You never feel like you've arrived when you are a lean practitioner, but personally I’ve been studying it since the late ‘80s or early ‘90s, and it is an exportable capability that we put into all the companies that we acquire. It takes more time to put in the other two elements sometimes several years to move from the beginner stage to where you’re really getting the kind of output that we expect to happen every year. But that's what we build our strategy on, that's we build our acquisition strategy that we created on. Next?

So we are moving to slide five here, if I guess the number right there. Okay. Slide five. We believe that the acquisition strategy process has been successful. Now when we first did the spin here we were the world largest casket company and suddenly we buy K-Tron International that makes feeders, pneumatic conveyors, coal and mineral crushers, and what are called wood hogs, which is just a very fancy and article term for device that will take big chunks of scrap wood and turn it into small little pieces that can be used for biomass and other things.

Read the rest of this transcript for free on seekingalpha.com