Sep 21 2005
IndustryWeek magazine recently recognized HNI Corporation as one of the 50 Best U.S. Manufacturers.
Key to receiving the recognition is HNI subsidiary, Hearth & Home Technologies, which won this year’s Shingo Prize for Manufacturing Excellence. As the world’s largest fireplace manufacturer, Hearth & Home Technologies earned the “Nobel prize of Manufacturing” through rapid continuous improvement initiatives that effectively implements lean and world-class manufacturing practices to improve business performance. Such initiatives are common across HNI and undoubtedly help place it among the top 50 U.S. manufacturers.
To identify the top performing manufacturers, IndustryWeek factored in revenue growth and profit margin over the past three years. The publication also examined inventory turns, asset turnover, return on net assets and return on equity. IndustryWeek made the announcement in its August 2005 issue.
“As a subsidiary of HNI, we are honored to receive recognition from IndustryWeek as one of the top manufacturers in the country,” said Rich Bodensteiner, Vice-President and General Manager, Hearth & Home Technologies.
“A rapid continuous improvement philosophy cuts across all the functions of our organization and helps us meet the quality and performance expectations of our customers, shareholders and members.”
In addition to IndustryWeek, Forbes Magazine recognized HNI in 2005 for the seventh consecutive year as one of the 400 Best Big Companies in America. Fortune Magazine also recognized HNI this year as one of America's Most Admired Companies.