PROVIDENCE – Since assuming the top spot at AstroNova Inc. about three years ago, Gregory A. Woods has re-branded the company, re-focused and augmented its product lines, and overseen significant topline growth that is now starting to see positive movement in free cash flow. It is a record of achievement that has earned Woods recognition for leadership and strategy in Providence Business News’ fourth Manufacturing Awards program.
Woods’ transformation of the company after doing business as Astro-Med for 44 years was accomplished first by divesting its medical business, which led to the re-naming of the company around its aerospace business lines. Today the company has three product lines: product identification, for consumer as well as industrial uses; test and measurement, which includes devices used for regulatory, safety compliance and quality assurance; and aerospace, which includes flight deck printers and networking electronics.
In addition to both focusing and expanding product lines, some through internal development, others through acquisition, Woods has grown the markets for AstroNova products in Europe and Asia.
The result is growth from having yearly revenue in the $60 million-$70 million range to pushing against $100 million now, with a target that has the West Warwick company hitting $250 million by fiscal 2021. In order to reach that goal, Woods has been continuing capital investments as well as investments in employee education (all staff have undergone lean training).
Woods is one of 13 winners in this year’s Manufacturing Awards program who will be recognized March 30 from 5:30-8 p.m. at a dinner event at the new WaterFire Arts Center.
Other winners in the fourth edition of the Manufacturing Awards are:
Toray Plastics (America) Inc., for Overall Excellence, more than 150 employees
The Town Dock, Overall Excellence, 50-150 employees
AVTECH Software Inc., Overall Excellence, fewer than 50 employees
The Brickle Group/The Phoenix Partnership, Collaboration in Manufacturing
The Beck Companies, Emerging Manufacturer
FarSounder, Exporting Excellence
Vacuum Processing Systems LLC, Green Manufacturing Excellence
VIBCO Inc., Lean Manufacturing Excellence
Amtrol Inc., Product Innovation & Design
Taco Comfort Solutions, Safety Performance & Records Excellence
Amgen Rhode Island, Supply Chain Excellence
Tanury Industries, Workforce Development & Productivity Excellence
Presenting sponsor for the fourth PBN Manufacturing Awards program is Polaris MEP. Partner sponsors include Bryant University, Cox Business, Gallo|Thomas and Goldman Sachs 10,000 Small Businesses.
For information about attending the PBN Manufacturing Awards dinner on March 30, click HERE.