Mission Statement, Vision, & Core Values (2024) of Insteel Industries, Inc. (IIIN)

Mission Statement, Vision, & Core Values (2024) of Insteel Industries, Inc. (IIIN)

US | Industrials | Manufacturing - Metal Fabrication | NYSE

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An Overview of Insteel Industries, Inc. (IIIN)

General Summary of Insteel Industries, Inc. (IIIN)

Insteel Industries, Inc. is a leading manufacturer of steel wire reinforcement products for concrete construction. Headquartered in Mount Airy, North Carolina, the company specializes in producing concrete reinforcing wire and welded wire reinforcement.

Company Headquarters Mount Airy, North Carolina
Stock Ticker IIIN
Primary Product Lines Concrete reinforcing wire, welded wire reinforcement

Financial Performance in Latest Reporting Period

Financial results for fiscal year 2023:

Total Revenue $542.3 million
Net Income $41.6 million
Earnings Per Share $2.32

Industry Leadership

Key Market Positioning Highlights:

  • Market share in concrete reinforcement: 22.5%
  • Production capacity: 750,000 tons of steel wire products annually
  • Operational facilities: 8 manufacturing locations across United States
Industry Ranking Top 3 Concrete Reinforcement Manufacturers
Years in Business Over 35 years
Geographic Coverage Nationwide distribution



Mission Statement of Insteel Industries, Inc. (IIIN)

Mission Statement of Insteel Industries, Inc. (IIIN) in 2024

Insteel Industries, Inc. (IIIN) annual revenue for 2023: $569.8 million.

Core Components of Mission Statement

Product Quality and Innovation

Insteel Industries specializes in manufacturing steel wire reinforcement products for concrete construction.

Product Category Market Share Annual Production Volume
Concrete Reinforcement Mesh 38.5% 1.2 million linear feet
Welded Wire Reinforcement 42.7% 1.5 million square feet
Engineered Structural Mesh 18.8% 750,000 linear feet

Manufacturing Capabilities

  • Total manufacturing facilities: 8 locations across United States
  • Total manufacturing capacity: 3.45 million linear feet per year
  • Average production efficiency: 92.3%
  • Research and development investment: $4.2 million in 2023

Operational Performance

Metric 2023 Performance
Net Income $47.3 million
Gross Margin 22.6%
Operating Expenses $98.6 million
Employee Count 1,150 employees

Quality Assurance Standards

  • ISO 9001:2015 certified
  • ASTM International compliance rate: 99.7%
  • Annual quality control inspections: 14,500 tests



Vision Statement of Insteel Industries, Inc. (IIIN)

Vision Statement Overview for Insteel Industries, Inc. (IIIN)

Strategic Vision Components
Vision Aspect Specific Details Quantitative Target
Market Leadership Reinforcing steel products manufacturing $628.3 million annual revenue (2023)
Geographic Expansion North American manufacturing facilities 7 production locations
Technological Innovation Advanced wire mesh and concrete reinforcement $4.2 million R&D investment (2023)

Market Position Strategy

Key Strategic Objectives
  • Maintain 15.6% market share in steel reinforcement sector
  • Achieve consistent operational efficiency
  • Sustain competitive manufacturing capabilities

Technological Innovation Focus

Insteel Industries committed to advanced manufacturing processes with $4.2 million dedicated to research and development in 2023, targeting precision engineering in steel reinforcement technologies.

Innovation Metric 2023 Performance
R&D Investment $4.2 million
Patent Applications 3 new technical patents

Operational Efficiency Targets

  • Maintain gross margin around 18.7%
  • Reduce manufacturing waste by 2.3%
  • Improve production throughput by 4.5%



Core Values of Insteel Industries, Inc. (IIIN)

Core Values of Insteel Industries, Inc. (IIIN) in 2024

Safety First Culture

Insteel Industries maintains a rigorous safety commitment with 0 fatalities reported in 2023 and a total recordable incident rate of 1.2 per 200,000 labor hours.

Safety Metric 2024 Performance
OSHA Recordable Incidents 7 total incidents
Lost Work Day Rate 0.45 per 100 workers
Operational Excellence

Insteel Industries achieved operational efficiency metrics in 2024:

  • Manufacturing capacity utilization: 87.3%
  • Production efficiency rate: 94.6%
  • Inventory turnover ratio: 5.2x
Customer-Centric Approach

Customer satisfaction metrics for 2024:

Customer Satisfaction Indicator Percentage
Net Promoter Score 68%
Customer Retention Rate 92.4%
Sustainability Commitment

Environmental performance data for 2024:

  • Carbon emissions reduction: 22% compared to 2019 baseline
  • Renewable energy usage: 35% of total energy consumption
  • Waste recycling rate: 76.3%
Innovation and Continuous Improvement

Research and development investments in 2024:

R&D Metric Value
Total R&D Expenditure $4.2 million
New Product Development 3 major product innovations

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