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Growing Davis-Standard Defies Economic Trend
By Leslie Rovetti / Staff, Westerly Sun
Sunday, October 5, 2008
PAWCATUCK — While other businesses may be laying off
personnel or closing altogether, Davis-Standard held a celebration Friday to show-off a thriving business with impressive employment figures.
Under a big white lawn tent, President and CEO Charles E. Buckley announced that employment has grown by 91 people, or 27 percent, since 2005. This is all the more impressive in light of rising unemployment
rates, he said.
On the same day as the company’s celebration, the federal Labor Department estimated a drop of 159,000 jobs in September.
Buckley had other impressive figures to share as well. The company has enjoyed a 40-percent increase in market share in single-screw extruders over the last three years, while the total market itself is
declining. Profits are up 130 percent, he said.
In addition, the Pawcatuck headquarters has gone 710 days of operating 24 hours a day, seven days a week without a lost-time accident.
Union President Gary Freitas said the picture was not so rosy less than a decade ago. He described “major layoffs” six or seven years ago, and union contracts with give-backs.
“We’ve been in dire straits,” he said.
Freitas credited Buckley, who came aboard three years ago, with turning the company around. Among Buckley’s initiatives was a profit-sharing plan that Freitas said every employee participates in.
In 2008’s annual employee survey, 92 percent of employees noted they were proud to say they worked for the 160-year-old company.
At the ceremony, Buckley was joined by state Sen. Andrew Maynard, state Rep. Diana Urban, and Stonington First Selectman Edward Haberek Jr. A congratulatory letter from Rep. Joe Courtney was read by Jenny
Contois, Courtney’s district director.
Buckley shared his good news with employees, as well as a few jokes. He recalled learning in elementary schools that Davis-Standard made cotton gins, although he said he learned that in current events
and not history class. He acknowledged the presence of Arthur Vincent, whom he called “the Davis-Standard dean of longevity.”
“He still comes to work every day,” Buckley said of Vincent, who started working at Davis-Standard in 1950. “He has a lot more energy than some of us young kids.”
Despite the rosy economic picture, Buckley cautioned the employees not to become complacent. Competition is still out there, he said, and “they’d love to eat our lunch.”
Scott Oakford, chairman of the board of directors, said Davis-Standard must still contend with “very significant competition around the world.”
“And of course, the job’s never done,” he said.
Although based in Pawcatuck, the company has facilities and employees around the world, and is responsible for designing, developing and manufacturing extrusion and flexible web converting equipment.
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