Focusing on critical structural cost reductions
In fiscal year 2021, MSC Industrial generated $224.5 million of cash from operations. Additionally, the company initiated a project called “Mission Critical” which focus is to accelerate market share capture and improve profitability over the period through fiscal year 2023. Specifically, it is investing in its market-leading metalworking business by adding to its metalworking specialist team, introducing value-added services to its customers and expanding its vending programs. Furthermore, part of the plan is to focus on critical structural cost reductions in order to improve return on invested capital.
Balance Sheet|New Activity|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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