TMA’s February news bulletin features HM Manufacturing’s President and CEO Nicole Wolter. TMA, or the Technology & Manufacturing Association provides almost 1,000 manufacturers and over 30,000 employees with programs and services to improve their operations, strengthen their workforces, and grow their businesses. Their February issue focuses on how HM Manufacturing and Nicole Wolter overcame their unique challenges.
“Nicole Wolter is finding a way to nearly double the speed and efficiency of the multi-national company’s food processing machines in order to meet their customers demands.”
To read the full article online, head to TMA
Or find it on page 8 of the online edition of the news bulletin at TMA
SME’s “Humans of Manufacturing” Spotlights Nicole Wolter
As part of their “Humans of Manufacturing” series, SME covered HM Manufacturing’s turnaround through our President and CEO Nicole Wolter’s hard work and growth. The Humans of Manufacturing series was created to cover “the human element” of manufacturing. The article highlights Nicole’s growth from knowing “virtually nothing” about manufacturing to leading a massive turnaround for a struggling power transmission components company.
“I knew that if we were going to grow and take on different kinds of work, we had to modernize our systems. Manufacturing is constantly evolving, and if you want to stay ahead of things, you need to evolve with it.”
To read the full story head to SME
Nicole Wolter and HM Manufacturing were featured in today’s Wall Street Journal. “Tax Incentive Puts More Robots on Factory Floors” focuses on how the new changes to the tax code will impact U.S. manufacturers.
“Other companies say the tax legislation changed their plans. Nicole Wolter, president of HM Manufacturing Inc. in suburban Chicago, said because of the lower 21% corporate tax rate she will be able to afford three additional milling and lathe machines this year for her 20-employee firm, which makes transmission and other components.”
Nicole is one of several industry leaders featured.
To read the full article head to WSJ
On January 19th, 2018 Kim Mikus of the Daily Herald Business ledger interviewed local business leaders about their predictions and thoughts for the coming year. Our President and CEO, Nicole Wolter was one of the leaders featured in the interview, answering an assortment of questions such as,
“Q: What is one issue you are concerned with heading into 2018?
A: One of my biggest concerns for 2018, that seems to be a consistent theme, is workforce development.”
To read the rest of Nicole’s answers and what the other great interviewees have to say about 2018 read the full story at Daily Herald
By: Kim Mikus Read the Article Here.
Nicole Wolter majored in chemical engineering and finance and was a year into her job at a Chicago securities firm when her father told her the family manufacturing business was losing money, blaming the recession in 2008.
Wolter, who knew almost nothing about the company her dad started in his basement about 38 years ago, returned home during the economic downturn to try to assist in the operation. Over the next several years, the energetic businesswoman worked to learn everything about HM Manufacturing, a power transmission components provider in Wauconda.
As she studied the company, she uncovered a scandal on the manufacturing floor that nearly drove the company into bankruptcy. She turned the company around, bringing sales from $80,000 to about $3 million in six years. "I love to go to the next level," said Wolter, 32. Perseverance and determination are reasons Wolter was one of 21 local women recently honored by the Daily Herald Business Ledger during the 20th annual Influential Women in Business Awards. The awards were presented to women executives who excel in business, civic and personal arenas.
To read the full story head to Here.
2017 Influential Women in Business honorees
• Nicole Wolter, president, HM Manufacturing
• Susan Abrams, CEO, Holocaust Museum & Education Center, Skokie
• Karyn Charvat, executive director, PowerForward DuPage
• Miriam Cooper, Law Office of Miriam Cooper & Associates LLC, Rolling Meadows
• Siobhan Cottone, executive director, Lakeside Legacy Foundation, Crystal Lake
• Dina Derman, senior vice president, Inland Bank and Trust
• Georgia Dobbelaere, president, Business Office Systems
• Lisa Fiorenza, chief financial officer, Quantum Plastics LLC
• Jessica Freiburg, partner, Sassetti LLC
• Lora Georgieva, founder/president, Destination College
• Alison Gutterman, CEO and president, Jelmar LLC.
• Susan Hagberg, Wild Goose Chase Inc., Canine Detection & Inspection Services, Migratory Bird Management LC
• Jacqueline Krage-Strako, vice president, Area Operations, United States Postal Service
• Nasutsa Mabwa, president, ServiceMaster Restoration by Simons
• Beth Marchetti, executive director, DuPage Convention & Visitors Bureau
• Cheryl Molfese, COO, Crown Coverings Inc.
• Sarah Orleans, president and CEO, DuPage Children's Museum
• Mildred (Millie) V. Palmer, partner, Waltz, Palmer & Dawson LLC
• Bonnie Proctor, CEO & principal, Challenger Lighting Company Inc.
• Rita Sola-Cook, Midwest Region executive, Global Commercial Bank, Bank of America Merrill Lynch
• Sharmila Wijeyakumar, COO & founder, Rahab's Daughters
To read the full story head to Daily Herald
Nicole Wolter, president of HM Manufacturing in Wauconda, said her father started the business.
Wolter started in shipping, then did sales, gave quotes and then some accounting, eventually leading to doing cost analysis of manufacturing parts.
Eventually, she discovered the shop’s employees were thieving.
“They started their own business inside,” Wolter said.
“They were beating us on lead times, beating us on materials.”
She and her father fired 12 employees, leaving the company with three workers and three months of capital, eventually turning things around, Wolter said.
To read the full story head to KCC
When customers take longer to pay, the pain for small manufacturers is real. Nicole Wolter is president of HM Manufacturing, a $2.8 million company that makes power train components like gears, pulleys and shafts. Boeing is a customer; the Wauconda plant also supplies a company that sells Chicken McNuggets machines to Tyson.
In the past eight months, Wolter says, customers have asked to go from 45 or 60 days to 90. One customer simply began paying invoices in 90 days instead of 60 days without ever acknowledging the change.
Slower payment from customers makes it more difficult to meet payroll or forecast when to buy new machinery. Wolter had to part ways with one company that wanted to move to 120 days.
"As much as it hurts (to lose a customer), it hurts more when you look at your bank account, and there's not much there, and you're waiting on all of this money," she says.
Nicole is one of several industry leaders featured.
To read the full article head to CRAIN'S
HM MANUFACTURING was recently honored as one of the 2016 Annual Awards for Business Excellence in the category of MANUFACTURING. The AABEs highlight successful suburban businesses and organizations and honor the people who make them successful.
Awards were presented to 22 companies and not-for-profit organizations in 9 categories of competition. The award recipients were recognized during an evening reception on March 16, 2016, at Medinah Banquets, in Addison. Approximately 200 business executives, friends and associates were in attendance.
The keynote speaker was Mark Seigle, President, Seigle’s Cabinet Center, Elgin.
The awards program is now in its 26th year and is promoted by The Daily Herald Business Ledger in partnership with B. Gunther & Co., Lisle; Northern Illinois University School of Business, Focus Capital Advisors, JJR Marketing and six local business associations: Construction Industry Service Corporation (CISCO); the DuPage Convention & Visitors Bureau; MRA – The Management Association; Quad County African American Chamber of Commerce; Small Business Advocacy Council and the Valley Industrial Association.
The recipient companies and organizations will be profiled in a special publication of The Daily Herald Business Ledger published on April 18, 2016.
The AABEs, given for business achievement, growth and community involvement, are presented to outstanding businesses and non-profit organizations with a significant presence in the suburban circulation area of the Daily Herald Business Ledger (DuPage County, Fox Valley, NW Cook County, Lake County, West Cook County, Southwest Cook County and Will County.)
Nominations for the 2017 Annual Awards for Business Excellence will be accepted beginning in November 2016.
The Daily Herald Business Ledger is the leading provider of business news and information about businesses and the economy in suburban Chicago both in print and on-line. The Business Ledger is a sister publication to the Daily Herald and part of the Paddock Publications family. For more information about events and sponsorships contact Andy Zielonka, Manager of Sales & Operations, at 630-955-3592 or e-mail at email@example.com
By category, the 2016 recipients are: