CIRCOR International, Inc. (NYSE:CIR) is a worldwide provider of valves and other highly engineered products that control the flow of fluids safely and efficiently in the aerospace, energy and industrial markets. With more than 9,000 customers in more than 100 countries, CIRCOR has a diversified product portfolio with recognized, market-leading brands. CIRCOR’s strategy includes growing organically by investing in new, differentiated products; adding value to component products; and expanding scope through development of mission-critical systems.
CIRCOR Instrumentation Technologies is a business specializing in precision, low-flow fluid control solutions for industrial applications. The Spartanburg, S.C.-based firm designs, manufactures and distributes valves, regulators, fittings, control manifolds and other devices for diverse end uses. Its products enable end-users to control process fluids safely and reliably in chemical, petrochemical, oil and gas, power-generation and general industrial sectors.
Its main product lines include HOKE brand ball, needle, packless, diaphragm, solenoid and metering valves, GO brand pressure regulators, quick couplers, and GYROLOK brand compression tube fittings. Through investment in technology and product development, CIRCOR has been expanding into more highly engineered process sampling, conditioning, and analytical markets, serving a sophisticated customer base.
CIRCOR competes in a very competitive market space, requiring the company to adopt aggressive programs of cost control and operational improvement, including outsourcing to lower-cost producers, combining facilities and introducing lean manufacturing approaches.
Lean Manufacturing and Talent Multiplication
Instrumentation Technologies began building a culture of continuous improvement and operational excellence in 2005. The goal was two-fold: First, develop a talented leadership team to take the company to higher levels of operational performance; and second, teach employees how to continuously improve their work processes. Talent acquisition, development and retention are now an integral part of the CIRCOR Business System positioning the business for future success.
CIRCOR Instrumentation Technologies, with resources freed up through lean activities, has invested more heavily in new product development. These R&D efforts leverage core competencies in component design and manufacturing to develop mission-critical subsystems that provide integrated high value add solutions.
Global Manufacturing and Supply Chain
Overall, CIRCOR is reducing its manufacturing costs, diversifying its supply chain and broadening its global footprint by expanding manufacturing capabilities in emerging countries. For example, the company continues to invest in its Chinese operations and more recently, has entered the Indian market.
People and Process
As CIRCOR Instrumentation Technologies moves forward, its continuous improvement culture will transform major processes across multiple functional areas. The business will continue to invest in facilities, development of people, and the application of lean techniques to provide customers with improved delivery performance, higher quality and increased flexibility.
The company firmly believes that continued implementation of the CIRCOR Business System will yield a sustainable, competitive advantage with improved stakeholder value for investors, customers, employees, suppliers and the communities in which it operates.