Dive into Meyer Tool’s journey navigating industry hurdles while fostering expansion 

Handling everything from machining and coating to final assembly, Meyer Tool Ltd (Meyer) stands as a trusted manufacturing partner for companies aiming to streamline their supply chain management. Meyer is an industry leading, high-tech manufacturing company supplying a diverse range of precision components to the aerospace and gas turbine engine sectors. By offering a complete manufacturing solution for airfoil and hot section turbine component production, the company minimizes logistical expenses and time spent shipping products to multiple sources. Furthermore, Meyer boasts an extensive fleet of over 1100 electrical discharge machining (EDM) machines (including wire, ram, and fast hole drilling). Notably, the company specializes in waterjet machining, conventional machining, abrasive grinding, laser machining and welding, electron-beam (EB) welding, coating, airflow testing, and other processes crucial for the manufacturing of airfoils and other hot section turbine components. Doug Lang, President, provides us with an insightful update on Meyer’s endeavors since our last interview in 2021. 

“Our trajectory has been marked by a remarkable 16 percent growth in revenue. This growth has been underscored by the addition of over 200 skilled positions distributed across our extensive network of 13 sites, thus amplifying our capacity for innovation. Moreover, we successfully acquired a business in Maine named B&B Precise Products, which was a pivotal move enhancing our footprint and capabilities. Concurrently, we have, and still do, persist in our strategy to diversify and penetrate adjacent markets,” he states. 

Doug delves deeper into Meyer’s acquisition of B&B Precise Products in 2022, which has proven quite successful thus far. “The acquisition of B&B Precise Products was driven primarily by two key factors: proximity and capability. As a result of this strategic move, we have effectively doubled the business over the past two years. Moreover, we have expanded our capabilities and fostered growth with our largest customer. Integrating B&B Precise Products into our portfolio has provided Meyer with advanced milling and turning capabilities, thus enabling us to better cater to the diverse needs of our broad customer base,” he informs. 

As the pandemic and wider geopolitical hostilities continue to affect many industries in various ways, Doug reveals how Meyer has been impacted by this climate of instability. “Despite the adversities, our military business continues to grow steadily while the resurgence of business aviation has exceeded initial predictions. Meanwhile, the fractional market has expanded considerably, and the commercial sector has come back strong. However, amidst these favorable trends, our major challenge was and continues to be the ongoing quest for talent, both in terms of direct and indirect employees. This scarcity of skilled workforce remains a common issue within our industry and a tough obstacle to overcome,” he shares. Nonetheless, the company has proactively tackled these challenges. “We are addressing these obstacles through continued investment aimed at advancing technology, thereby enhancing our First Time Yield (FTY) and increasing efficiency to generate greater throughput. Additionally, we are forging partnerships with local universities and vocational schools to develop a feeder program tailored to better nurture and home grow our talent,” he adds. 

Despite the challenges Meyer has encountered over the past three years, its relationship with its supply chain remains resilient and cooperative. “We continue to leverage both our supplier’s resources and our own by consolidating purchases for all our sites to take advantage of volume discounts. Furthermore, we have actively collaborated with our supply chain to gain insights into lead times, allowing us to secure the best pricing by ordering in bulk and storing inventory on our shelves. Meyer has implemented a system where we are invoiced for inventory only upon consumption, enabling us to manage costs more effectively. This approach includes forecasting lead times and ordering ahead to prevent production disruptions,” Doug elaborates. 

Besides fostering progress within its own ranks, Meyer actively works towards easing the labor shortage crisis. “We have implemented a multifaceted approach, beginning with prioritizing internal training initiatives and collaborating with local technical high schools, colleges, universities, and cooperative programs to cultivate the new generation of skilled workforce. Then, we offer a comprehensive 100 percent reimbursement program for secondary education expenses incurred by full-time employees striving to advance within the company. Besides, to streamline communication, Meyer has installed electronic communication screens across all its sites. It is also worth mentioning that our company culture is strongly anchored in promotion from within, which has been very well received,” Doug continues. 

Meyer’s continuous efforts to thrive and survive in the midst of unpredictable industry challenges led the company to make the 2023 Deloitte Cincinnati 100 List. Doug reflects on what this recognition means to Meyer and its valued workforce. “In the past, our focus was primarily on serving our customers while refining our internal processes for manufacturing parts. However, as Meyer grew, we recognized it was time to improve our brand presence and give our employees something to be proud of. This recognition not only celebrates the collective achievements of our team, but also serves as a testament to the excellence we deliver in every aspect of our operations. Additionally, being featured on such a prestigious list allows us to reach other companies in the surrounding area who may not yet be familiar with our capabilities, hence opening doors to new opportunities,” he unveils. 

Always striving to positively impact its communities, Meyer is thoroughly involved in community work. “Not only do we host our own events, but we also support our customers’ initiatives. Engaging directly with our local communities, we support them by contributing to various endeavors, including fundraisers, Toys for Tots campaigns, and food drives. Likewise, we collaborate with our customers in participating in several United Way events,” Doug enlightens. 

By broadening its horizons and investing in community and workforce training, Meyer is well-equipped to continue prospering. As he looks to the future, Doug unveils his aspirations for the future of the company. “In five years’ time, I would like our revenue to exceed $500 million, driven by sustained growth and diversification. Equally, Meyer will have expanded its capabilities in Europe to better service local customers,” he ends.