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LOU-RICH BUSINESS UPDATE – OCTOBER 2021

Justin Mickelson2021-10-25T17:59:56+00:00October 25th, 2021|Lou-Rich Business
Update|
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Let me start by asking a simple question. Have you ever played the game
Whack-A-Mole? You know, where you try your best to hit the pesky rodent when he
unexpectedly pops out of a random hole? Well, that is sort of what life has
become at Lou-Rich trying to navigate supply chain issues, escalating raw
material pricing, quickly changing customer product demands, and lingering
COVID-19 protocols to keep everyone in the business safe. It seems every day
there are more “moles” than ever before that need to be “whacked”. Having said
that, I can also report that the Lou-Rich is pretty darn good at dealing with
all the twist and turns thrown our way. I am very proud of the effort and energy
everyone at Lou-Rich puts forth every day to meet and exceed our customer needs.
Our valued suppliers have been with us along this journey as well, and I want to
express my gratitude for their continued efforts.

This is the time of the year we start to put together sales forecasts and
operating budgets for the coming year. Given that many of our customers are
seeing increases in demand, along with on-boarding several new projects, that
means 2022 looks to be a year of strong growth for Lou-Rich. We typically make
investments in new capital each year between $2-3M, and next year will be no
exception. The “wish list” from employees is currently much larger than that,
but that is part of our process to engage many of our employee-owners. For
several years now, much of our focus on adding new equipment has been on
automation and robotics, which will certainly continue next year as well. I will
give an update in the December newsletter on what items made the budget, so look
for that next time.

Lee Gulbrandson

Lou-Rich General Manager

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