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Aib Vinçotte, A case study of Innovation & International Development - Jean Muls
- 1. International Management Session # 09 Aib-Vincotte, a case of innovation and international expansion. Mr. Jean Muls, Managing director (2005-2010) 08 december 2014 1
- 2. Who I am ? 2
- 11. 11
- 13. The case : 1. Shrinking revenues, lack of liquidity (sold its buidlings) 2. Board’s vision : To expensive, cost cutting is the solution 3. CMO’s vision : high resistance to change 4. Findings : High levels of technical competence, but untapped. Mismatch with market demand. Strategic Management issue ?
- 14. Lobbying & copy- paste of expertise towards The Netherlands. Gate Terminal (Rotterdam).
- 15. “Are Data centers not using the same electric circuit breaker than steel plants did ?” Google (Europe)
- 16. Partnerships in the Gulf (300 employees) & Gas pipeline inspection in India.
- 18. Inspecting the core of ITER (nuclear fusion recator).
- 19. How did international expansion and innovation pay off ?
- 20. Thank you for your attention
Editor's Notes
- “Another project I was involved in is the reclamation of the artificial island for the new Hong Kong airport, one of Asia’s most frequented airports. I was proud of being part of it. Being able to se it all take shape out of nothing …”
- “Three things I retained from my time at Insead : My education in business management by top teachers The interactions with co-students coming from totally opposite business and national backgrounds – more than 80 diffrerent nationalities in a group of 240 students Many good friends and a powerfull network”
- “It’s at GE that I really learnt how to run a company. How to strategically reflect what a market is about, how to set up a sound business model to capture targeted market opportunities, how to structure a company to accomplish that goal. And then how to defines roles and responsibilities, set up systems and processes. We used to call it execution.”
- “Since Bogies were such a critical component, I played an important role in many Bombardier’s highly visible projects, literally around the globe. From the Hi-speed bogies for the Thalys, France’s first HI-Speed train that really changed medium range travelling habits, … to the Virgin tilting trains, based on an expertise that was imported from Canada … and to R&D projects with the Japanese railway authority, validating the technical superiority of Bombardier’s products.”
- “And I became CEO of BGS, a newly created company that was founded on the assets of two departments of the bankrupt company : handling and cargo, with 1500 staff and about 60 customers.
- When I joined Aib-Vincotte, I was told that the main problem to be tackled was the high level of salaries of its employees. It had liquidity problems and year-on-year revenue was flat.
- “My mandate was twofold : Hold P&L responsibility over Imtech Belgium Work on external growth initiatives towards France, Imtech’s blind spot in Europe. My work experience in France and understanding of its business culture was giving me a unique position in the integration process of the merger that was being contemplated. When I joined, Imtech Belgium was headed by an interim CEO. I rapidly realized that Imtech, despite its image, was decentralized to the extreme. Although acquired for more than ten years, except for the name, nothing had changed. So when the first BU went in problems we didn’t see it coming. This led to the first restructuring of one of the Business Units in 2010.”
- “Aib Vinçotte – accredited body under the European pressure vessel directive - had been heavily involved in all type of controls and inspections during the construction and operation of Fluxys’ terminal in Zeebrugge. In the context of the Gate Terminal project in Rotterdam, we got in contact with the port of Rotterdam and the authorities that ultimately asked Vinçotte to assist them to set up the appropriate inspection framework to guarantee safety during the construction of the LNG terminal (illustration left above). That gave us a strong advantage to win the TPI contract itself (illustration left below), further strengthening Vinçotte position in gas inspection and control, at global level.”
- “After a couple of months, I became convinced of the market potential of the accumulated experience. Instead of (only) cutting costs, I focused on innovation and new market-service development and got my teams to work on detecting new opportunities and developing new services. We had expertise in control of electrical components in the process industry. So we went for the booming market of Datacenters (picture next : team inspecting a circuit breaker for Google’s datacenter in Ghlin).”
- “International expansion was also one of our growth priorities. Growth based on the company’s expertise. From 2005 to 2010, we expanded Aib-Vinçotte’s share of business at international level to more than 30%. In 2010, our staff in the Middde East, where we partnered with local investors, reached 300 (picture left above : Vinçotte Middle East team during ADIPEC Exhibition). We also looked at market opportunities in India. As the country’s demand for energy was huge and its energy transport networks required expansion, we targeted that market. We accomplished that by winning the inspection contract for the construction of GAIL DVPL II pipeline.”
- “The cherry on the cake of our innovation and expansion initiatives was the award of ITER’s TOKAMAK reactor vessel order (illustration right). Vinçotte – a 150 year old company – was thereby all of a sudden a key player in this global R&D project aiming to prove the technological and commercial feasibility of nuclear fusion as a future source of energy (www.iter.org). In 2010 all contacts to sell the company initiated when it had liquidity problems were interrupted. Vinçotte is still doing well today.”
- “The cherry on the cake of our innovation and expansion initiatives was the award of ITER’s TOKAMAK reactor vessel order (illustration right). Vinçotte – a 150 year old company – was thereby all of a sudden a key player in this global R&D project aiming to prove the technological and commercial feasibility of nuclear fusion as a future source of energy (www.iter.org). In 2010 all contacts to sell the company initiated when it had liquidity problems were interrupted. Vinçotte is still doing well today.”