Plant Sales

Douglas A. Herbert, CPA

*** ****** ****** **. *********, Florida 32086 904-***-****

*********@***.***

CPA with more than 18 years professional accounting experience, including

more than 16 years as a successful Controller and/or CFO; a champion and

proponent of continuous Improvement and lean manufacturing processes who

has a proven track record of maximizing profitability at multiple

organizations. Extensive experience in all phases of US GAAP compliant

accounting including journal entry preparation, month end closings,

monthly, quarterly and annual financial statement preparation, forecasting,

budgeting, metrics reporting, variance analysis, GAAP compliant revenue

recognition, SOX internal controls implementation and compliance, treasury,

banking relations, audit interfacing, supervision and development of staff,

cost accounting, inventory management, import and export management,

accounts receivable, credit, collections, customer relations, accounts

payable, vendor relations, payroll supervision, benefits coordination,

capital requests evaluation including IRR% determination, price modeling,

ERP implementation and maintenance, merger and acquisition due diligence,

foreign currency and financial statement conversion to US currency and GAAP

compliant financial statements, consolidation accounting, multiple Plant

Controllership, project management, Governmental contracts and compliance,

domestic and foreign letters of credit preparation as well as workers comp,

payroll, real estate, sales and personal property tax return preparation.

Primary industries worked in include industrial manufacturing, screw

machine products manufacturing, gear cutting, metal stamping, engineering

services & construction/capital equipment manufacturing, bedding

manufacturing and the manufacturing of printed products.

Work Experiences

Chief Financial Officer - Drummond Press - Jacksonville, Florida

Aug 2009-Apr 2010

The Largest Commercial Printing Company in Northern Florida

Core duties included being responsible for all financial aspects of

the business including financial statement preparation, metrics

reporting, staff supervision and development, treasury, banking

relations and interfacing with the outside CPA firm

Key Achievements

. Implemented new billing procedures that led to a 10 day reduction in

billing lag and substantially improved cash flow

. Finished implementing a new ERP system that was not correctly

implemented by the prior Accounting regime

. Improved credit and collection practices to reduce bad debt write offs

by $250K annually

. Part of successfully attaining a State funded grant for training of

over $31K - to attain Lean training for employees

. Eliminated 1 person of the 4 person Accounting Department within 2

months of my arrival by increasing efficiencies of the department

through training and process improvement, reducing annual payroll

expense by over $35K

Plant Controller - American Color/Vertis Communications - Medina, Ohio

Mar 2006-Aug 2009

American Color was a Commercial Printing Company with 9 plants across the

continent, including the Medina, Ohio plant. The parent company and its 9

plants were acquired by Vertis Communications, an International Commercial

Printer with annual revenues in excess of $1.5 Billion in a merger

consummated in October of 2008. The Medina Plant was an operation with

annual revenues in excess of $50 Million with 235 employees

Core duties included financial statement preparation, metrics

reporting, forecasting, budgeting, variance analysis, cost control and

reduction, staff supervision and development, corporate reporting and

interfacing as well as overall plant profitability

Key Achievements

. Medina plant improved in profitability from last amongst the 9

American Color plants when I was first hired to 2nd on less than the

volume of the top plant

. Dramatically improved financial reporting by improving accuracy, speed

and relevance of information produced by the department - accounting

department staff and procedures were totally overhauled

. Fixed a major inventory problem that was causing unreliable inventory

reporting. Inventory discrepancies were reduced from 12%

(approximately 400,000 lbs of paper valued at $120K) to less than 1/10

of a percent (approximately 1000 lbs of paper valued at less than

$500) per inventory - eliminating a problem that had previously led to

purchasing inventory already on hand but not known (contributing to

creating obsolete Inventory) and eliminating cases of depending upon

inventory on the report being on hand and finding out it really was

not on hand (leading to late or missed deliveries). The problem had

also led to the financial statements being overstated or understated

up to $120K per month

. Implemented Sarbanes Oxley internal controls, trained staff and

conducted internal auditing to ensure maintenance and compliance

. Plant showed record profitability - consistently well above budgeted

and prior year earnings due to improved inventory control, improved

financial reporting and continuous improvement projects

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Plant Controller - Sealy Mattress Company - Medina, Ohio

Dec 2004 - Mar 2006

The Sealy Mattress Company is a Multi-Billion dollar organization

recognized as the worldwide leader in the sale of bedding and bedding

products. The Medina plant was a $64 Million dollar Plant with 180

employees

Core duties included financial statement preparation, metrics reporting,

forecasting, budgeting, variance analysis, cost control and reduction,

staff supervision and development, corporate reporting and interfacing as

well as overall plant profitability

Key Achievements

. Charged with instituting Sealy's Sarbanes Oxley procedures at Medina

plant, and insuring compliance with GAAP policies and procedures while

Supervising a staff of 8

. While at Sealy, formally introduced to lean manufacturing, six sigma

and continuous improvement concepts

. Participated in lean manufacturing and kaizen events that led to a

decline in labor cost per unit of more than 18%

. Made presentations to all levels of Management, including Corporate

Level Board Members

. Responsible for managing the importation from China of all foam

bedding products being distributed to all 17 domestic plants

Park Ohio Industries - Cleveland, Ohio

Mar 1998-Dec 2004

Park Ohio Industries is a publicly traded holding company with annual

revenues of more than $1 Billion, and is made up of many manufacturing

divisions across the world.

Originally hired in March of 1998 as Plant Controller of 1 Park Ohio

Division (FECO), in April of 1999 promoted to become a Multi-Division

Controller by being named Plant Controller of the newly acquired PMC

Industries while still remaining the Plant Controller of FECO. Also

in 1999, led the financial due diligence process that led to the

acquisition of a Brussels, Belgium based company known as M.P. Colinet

- which led to being named the Financial Liaison for the newly

acquired international division while remaining Controller of both

FECO and PMC.

Financial Liaison - M.P. Colinet (A Park Ohio Co.) - Brussels, Belgium

Jul 1999-Dec 2004

M.P. Colinet is a Capital Equipment manufacturer of Pipe Threading

Equipment - and was PMC's chief competitor.

Key Achievements

. Performed financial due diligence on company prior to Park Ohio's

acquisition

. After Park Ohio acquired the company, promoted to be Financial Liaison

of M.P. Colinet, concurrently while already being Controller of 2

other Park Ohio Divisions, FECO and PMC

. Supervised financial team; implemented procedures and trained staff to

create U.S. GAAP compliant financial statements

. Performed monthly conversion of financials from native currency

(Euro's) to US Dollars, computing gain and loss on conversion of

currency

. Responsible for creation and oversight of international purchase

contracts and letters of credit management

Multi-Division Controller - PMC (A Park Ohio Co.) - Wickliffe, Ohio

Apr 1999-Dec 2004

(Concurrently Controller of FECO from April 1999 to September of 2000)

PMC was a privately held Capital Equipment and Spare Parts manufacturer of

pipe threading equipment for the oil and natural gas industries that was

acquired by Park Ohio in a bankruptcy auction in 1999. It had not

generated a profit in 10 years and had gone bankrupt prior to my becoming

part of the Management Team

Core duties included financial statement preparation, metrics reporting,

forecasting, budgeting, variance analysis, cost control and reduction,

staff supervision and development, turnaround management, corporate

reporting and interfacing as well as overall plant profitability

Key Achievements

. Company EBIT in first year of operations (after having gone bankrupt

during the prior December) was in excess of $2.2M on $10M in revenues

- (which was my first year as Controller of PMC)

. Set up standard costing system and created new Labor and Overhead

absorption rates, leading to more realistic and profitable pricing on

most of its spare parts

. Headed project in which we installed a new ERP system (Visual

Manufacturing), that lead to quicker, more accurate and improved

financial reporting

. Worked with Engineering to set up bills of materials for all spare

parts and capital equipment projects

. Headed energy based cost saving projects that led to annual savings in

excess of $200,000

. Tightened credit management - leading to a $125K reduction of accounts

receivables and bad debt write offs

. Charged with implementing Sarbanes Oxley internal controls and

ensuring compliance

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Park Ohio Industries cont'd

Division Controller - FECO, (A Park Ohio Co.) - Cleveland, Ohio

Mar 1998-Sep 2000

FECO was a Capital Equipment manufacturer of various types of machinery.

FECO went bankrupt in February 1997, after which time Park Ohio bought the

Assets of the former company. The company had a disappointing first year

under Park Ohio's ownership, earning an EBIT of $1K on $8Million in sales.

I was hired in March of 1998 to improve the financial performance of the

company.

Core duties included financial statement preparation, metrics reporting,

forecasting, budgeting, variance analysis, cost control and reduction,

staff supervision and development, turnaround management, corporate

reporting and interfacing as well as overall plant profitability

Key Achievements

. Division generated a significant profit for the first time in 10 years

($439,000) in my first year as Controller

. Division continued to be profitable for each of the 3 years during

which I was Controller

. Slashed working capital requirements by $200K by implementing a

compensation based program to help utilize usable, in-stock inventory

and an approval process for new inventory purchases not previously in

place

. Suggested ideas leading to the standardizing of certain parts -

resulting in savings of $100K annually

Controller and IT Manager - LaGrange Screw Products - Cleveland, Ohio

July 1996-Mar 1998

LaGrange Screw, Miller Gear and Judd Industries made up a privately held

group of metal forming companies that had $15 Million in combined Sales and

150 employees. I had first worked there from 1992 to 1994 and returned in

mid 1996.

Core duties included financial statement preparation, metrics reporting,

forecasting, budgeting, variance analysis, cost control and reduction,

staff supervision and development, turnaround management, bank reporting

and interfacing as well as overall plant profitability

Key Achievements

. Responsible for all top level accounting related tasks & supervision

of staff at multiple locations

. Managed working capital and worked with various personnel to plan cash

needs

. Interfaced with bank daily on collateral based borrowing activities

. Responsible for all IT related equipment and functions

Controller / Office Manager Bob White Services, Inc. - Cleveland, Ohio

Jan 1994-July 1996

Bob White Services was a Commercial Laundry Service, catering to major

area hospitals that originally had 3 Million in sales. The company had

been in business for 35 years, and had never before had its own internal

Accounting Department. I was hired to create an internal Accounting

Department by hiring and training staff and utilizing various softwares.

Core duties included financial statement preparation, metrics reporting,

forecasting, budgeting, variance analysis, cost control and reduction,

staff supervision and development, bank reporting and interfacing as well

as overall plant profitability

Key Achievements

. Company grew from $3 Million in Annual Revenues to $6 Million during

my 2 and a half years as Controller

. Computerized all Accounting functions using Peachtree Accounting,

Lotus 123 and Quicken

. Played a key role in attaining a $500,000 SBA loan by preparing

financial forecasts, creating budgets and reporting various financial

information on multiple future financial scenario's of the company

. Administrator of worker's comp, unemployment and employee health care

. Slashed the companies out of house Accounting fees by $20,000+

annually by preparing all payroll in house and by producing and

maintaining monthly Balance Sheets and Income Statements internally

. Reduced the annual general insurance premium from $21,000 down to

$13,000 and improved coverage's by shopping the company's insurance

out to 8 different agencies

LaGrange Screw Products - Cleveland, Ohio

Jul 1992-Jan 1994

Worked for this group of companies from 1992 to 1994 and returned in mid

1996 (see above)

Assistant Controller

Jul 1992 -Mar

1993

. Responsible for all A/P, A/R and P/R related tasks for all 3 companies

and for producing customer quotes

. Handled daily bank reporting and interfaced quarterly with bank

auditors

. Prepared Federal, State and Local monthly, quarterly, and annual

payroll related tax returns and documents, including W2's and 1099's

Sales, Purchasing & Production Manager

Mar 1993 - Jan 1994

. Duties included maintaining and developing customer relationships,

purchasing raw materials, and scheduling labor and machine time to

best match material deliveries and customer due dates

. Accepted customer orders and coordinated with the plant management to

satisfy customer needs

. Customer Service Representative for several key customer accounts

including automotive industry giants General Motors - Delphi Packard

Division, Ford, Honda as well as companies such as Parker Hannifin and

Kirkwood Carbon

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Education

Baldwin Wallace College - Berea, Ohio

Bachelor of Arts-Business Administration with an emphasis in

Accounting, June 1991

GPA 3.24 overall, 3.70 in Business Classes

. Dean's List - every quarter 1989-91

. Baldwin Wallace Presidential Scholarship-all 4 years

Conviser Duffy CPA Review Course - 1998

Awarded CPA Certification in June 1999 - License # 04-2-37563

(currently active and in good standing)

Computer Background

. Advanced experience and knowledge of Microsoft Excel as well as other

Microsoft Office Suite applications

. Co-Chaired ERP implementation while part of PMC Industries (installed

Visual Manufacturing)

. Corrected and completed ERP implementation of E-Pace software while

with Drummond Press

. Experience with AS400 based proprietary accounting systems in addition

to Real World, Peachtree, QuickBooks, Yardi, MAS90, Lawson, Essbase,

SAP, Hyperion, Microsoft Solomon, E-Pace, Kronos, PeopleSoft, ADP &

Visual Manufacturing Accounting Packages

. Experience with DOS, Windows XP, Windows Vista, Windows 7 and Windows

Server operating platforms

. Various other software knowledge and experience including Crystal

Reports, Business Objects, Lotus, Quicken, Turbo Tax and more

. Ability to troubleshoot, upgrade & build computers and servers from

scratch

Personal

. Included in the 1996, 2001-2008, International Who's Who of

Professionals, based on anonymous recommendation for outstanding

personal achievement

. Owned and operated my own successful business for 7 years (1985-1991)

. Advanced from fresh college graduate with no accounting experience in

June 1991 to Controller of a $50 Million dollar per year division of a

Multi-Billion Dollar Corporation-through multiple promotions and

recognition of personal achievements and contributions

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