At an Investors Day on Friday, Cranberry safety products company MSA celebrated its 100th anniversary and shared its goals for the future — growth in the international marketplace; plans to target the oil, gas and petrochemical sector; and product development.
“Investors Day gives us the chance to look at the overall strategy and give that overreaching perspective. At times, on a quarterly basis, we can get focused. I think it’s very important to get together every couple of years and level set,“ said CEO and President William M. Lambert.
MSA’s products include harnesses, hard hats, breathing apparatus, fixed gas and flame detection devices, and portable gas detection devices. Its core product revenue has increased from 58 percent to 73 percent since 2009, according to CFO Stacy McMahan. The company hopes to reach a 15 percent operating margin by 2015.
One investor asked if a delay in federal approval for MSA’s latest firefighter breathing apparatus, the G1 SCBA, might hinder that goal. That device’s approval was delayed by the government shutdown last year and a mistake at the testing facility, Mr. Lambert told the Post-Gazette in May.
"We’re not dependent on any one initiative to achieve that,” Ms. McMahan said. “Right now, about one-third of the company is focused on core products.”
Mr. Lambert believes approval of the G1 SCBA will go through by the end of the summer and shipping will start by the second half of the year. The G1 SCBA has a lighter face-piece than other such products, a rechargeable battery and a built-in communication system.
Investors were also shown a video highlighting some of MSA’s accomplishments over the past 100 years.
"We are certainly proud of our past, but what excites us more is turning the page and writing the next chapter of MSA’s story,” Mr. Lambert said.
MSA shares closed Friday at $55.11, down 29 cents from Thursday.
Madasyn Czebiniak: firstname.lastname@example.org or 412-263-1269. Twitter: @PG_Czebiniak.