ABSTRACT

Hamilton Caster is a fourth-generation family manufacturing business started in 1907 by entrepreneur John Weigel in Hamilton, Ohio. John, the son of German immigrants, was determined to be successful in business. His personal drive to succeed, coupled with natural inventiveness fostered a strong beginning. Narrowly surviving the Great Depression, a near-miraculous hand-o« to John’s daughter preserved the company in family hands into the second generation. ˜en, led by a very capable son-in-law, the company grew and thrived nancially. Ralph Lippert’s conservative “pay as you go” philosophy put Hamilton Caster in debt-free condition for his three sons who comprised the third-generation leaders. Bob, Tom, and Larry Lippert applied some unique marketing tactics and prudent investments in facility expansion and modern equipment to further strengthen the company in the material handling market. Currently, the fourth generation faces unparalleled global competition and a moving target in distributor structure as they strive to continue the success. ˜rough it all, four recipes stand out as the main reasons for the company’s success:

1. Conservative ’nancial management and execution 2. Consistent leadership in style, process, and management 3. Embracing key stakeholders, including employees, customers,

vendors, and the union into business strategy 4. Employment of new ideas, products, and processes

One characteristic that did not describe John Weigel was “conservative nancial management.” While he understood the importance of cash ©ow, pro ts, and other core business principles, he could scarcely contain his entrepreneurial enthusiasm to try new things. ˜ese ©ings curtailed the growth of the caster business and, at times, threatened its existence. Fortunately, the strong foundation of casters supported the business through his entrepreneurial meanderings spanning decades.