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Progressive Components Undergoes Complete Reorganization
Changes Announced at K Show in Düsseldorf

Wauconda, IL (December 21, 2004) - Progressive Components, a leading supplier of tooling components for the injection mold, blow mold and die cast die industries worldwide, has undergone a complete reorganization of its corporate structure. In addition to key operational changes, also notable is the formation of a new Global Management Team. The announcement was made at the K Show in Düsseldorf.

The team is composed of company principals Glenn Starkey, Director of Engineering & Sales, and Don Starkey, Director of Operations & Finance, along with John Wakefield, General Manager of Progressive Components Europe (PCEU), Progressive’s European hub based in the U.K., and Jessie Lee, Managing Director of Progressive Components Asia (PCA), Progressive’s Asia hub based in Singapore.

Progressive Components’ Global Management Team (from left): Glenn Starkey, Jessie Lee, John Wakefield, Don Starkey.

"Some companies are multinationals, where decision-making may at times not be globally connected, and subsequently there are inefficient actions between the various entities,” says Don Starkey. “Ours is a ‘transnational model’ now. So, inventory is coordinated by the Progressive Components International Corp., or PCIC, entity throughout the world network. This enables seamless transfers between countries, a key to keeping costs down in a global network."

PCIC will oversee some of the company’s core functions, such as product development, engineering, finance, inventory coordination and sales database management, while Progressive Components North America (PCNA), PCEU and PCA undertake the duties of local sales and customer service in their respective regions.

“The strength of this transnational model is the connectedness of our individual entities,” continues Don. “In broad terms, we’re leveraging the power of centralization for core functions that aren’t efficient to manage regionally, while allowing our regional entities to use their experience and knowledge of their customers to appropriately provide the products and services they require. This model avoids the pitfalls associated with a parent company dictating the business practices in regions where the parent company may not truly understand the customers’ needs.”

Progressive currently has distribution from seven wholly owned locations on three continents. The second edition of its Global Standards Program catalog, just released, offers an even wider range of standardized tooling components available in not only inch but also DIN and JIS sizes for molds built and run worldwide.

In addition to the reorganization, Progressive will be moving its European hub to a larger, more strategically located facility in the U.K. after the first of the year; and the Global Management Team is signing on distributorships in Germany, Portugal and Italy.

"Tooling has become so much more of a mobile industry in the past decade,” states Glenn Starkey. “Progressive’s new business model is positioned for how the market is at work. Our competitors have distributor relationships that prohibit communication between the components supplier, the mold builder and the mold buyer. Ours actually brings them together in a seamless communications network.

“2005 holds much in the way of growth and further innovation at Progressive,” continues Glenn. “We’re positioned to serve our customers with efficiency and quality, not to mention the very best pricing, wherever they may be in the world.”

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