Shanghai — Jack Truong, the new president and chief operating officer of Husky Injection Molding Systems Ltd., said the company will continue to develop with an “outside in” approach he brings to the Canadian company from his background in consumer marketing.
That approach, he said, is “to paint that picture of where the market is going and to set the right structures and business processes to get there and to motivate the employees to get there. It's more about market pull than a product push.”
2015 was a good year for Husky overall, he said, but China's slowdown has had its effect on the business. “There's been a slowdown in the past few years and we're cautiously optimistic that it will come back in the relatively short term.”
He added: “We did well in the Americas and Europe and the Middle East. China was not a good situation for us last year, but certain parts of Asia continue to grow.”
Husky's long-term plan is to stay ahead of the trends, Truong said. “We are a company that is always thinking about the next trend, whether consumer- or manufacturing-driven. Our goal is to develop novel injection molding solutions that help our customers capitalize on new opportunities.”
The trends that are currently leading Husky's development, he added, are pushed ahead by Asia's growing middle class, he said. “With the rising middle class in the Asia Pacific region, consumers will demand more products that are more safe [relevant to food safety] and the rising middle class will demand higher-quality products and also demand more choices. Those are the trends that are playing into the sweet spot for our company,” he said.
Truong emphasized: “It's very important for every business to have an outside view in. We need to do a better job of understanding market and consumer trends and use that to help shape what we do internally in the company so that we can be organized to provide the products and services to serve the rising trends in the marketplace.”
Truong said product diversification will be very important in the company's long-range planning. The company displayed injection molding solutions, closure molding solutions, medical molding systems, and the latest hot runner and controller technologies at this year's Chinaplas in Shanghai in late April.
“In the long term, our plan is to make sure we have the right product line at the different price points,” he said. “In the short term, our business here is to make sure we work even closer with our customers to make sure we can find more growth opportunities.”