TBM names Milbank Seventh Annual “Perfect Engine” Site

— Electrical Meter Socket Manufacturer Recognized for Operational Excellence —

Durham, N.C. – September 28, 2010 – TBM Consulting Group, a leading global consultancy for the manufacturing and services sectors, presented Milbank Manufacturing Company, the industry leader in the manufacture of electrical meter sockets, with the seventh annual “Perfect Engine Site” award, recognizing the Milbank Kansas City plant for its commitment to “lean” excellence in manufacturing.

“The Perfect Engine” refers to the precision interworking of human resources and physical assets to achieve outstanding productivity results that create business agility, growth and profitability. It is also the title of a book authored by TBM Consulting Group’s CEO Anand Sharma, who has consulted with hundreds of companies worldwide in implementing the principles, tools and management process of the Toyota Business System.

“The Perfect Engine Site” award recognizes individual plants or offices that have successfully implemented a LeanSigma® transformation and demonstrated innovation and outstanding teamwork. LeanSigma is the fusion of the two most powerful business systems from Toyota (Lean) and GE (Six Sigma).

Anand Sharma Chairman and CEO for TBM, presented the award to Eric Krichbaum, Senior Vice President of Operations and Chief Operating Officer at the LeanSigma Global Summit in Las Vegas, Nevada.  Mr. Krichbaum accepted the award on behalf of Trace Tandy, the plant manager at the Milbank Kansas City facility.  The Kansas City plant began its LeanSigma journey in 2005 after creating an overall vision and direction that required the facility to focus on operational excellence in order to become more agile and efficient.  Over the past two years, the Kansas City facility conducted over 30 kaizen events focused on critical shop floor and business process areas.

“We committed to a cross-functional approach for achieving our strategic objectives. By focusing on lead times, set-ups and stock availability, we are now able accommodate customer needs for variety.  At the same time, we reduced inventory and significantly improved our cash position in spite of the recent recession.  I am inspired by our accomplishments and humbled by the improvement opportunities that lie ahead.  Most importantly, we’ve invested in the development and retention of people to continuously improve our value delivery system,” said Krichbaum.

“We are very proud of Milbank because they defined a management vision and drove that vision throughout the organization by engaging employees at all levels.  Consequently, the site achieved its objectives by embracing LeanSigma tools and rapidly driving sustainable improvements in quality, cost, and delivery.  Milbank is mastering the challenge of sustainment and leveraging lean to achieve their important breakthrough growth initiatives,” said Anand Sharma.

About Milbank Manufacturing Company

Milbank Manufacturing Company is one of the largest manufacturers of electrical meter mounting equipment, including sockets, enclosures, power outlets and pedestals. Its lineup of 10,000 plus items also offers circuit breakers, test switches, and safety switches. Manufactured at five plants, products are channeled through a network of manufacturer’s representatives to electric utility companies, contractors, industrial distributors, and OEMs across North America. The family owned company was founded in 1927 by Charles A. Milbank, and is led by the third generation of one of Milbank Manufacturing’s entrepreneurs.