The Urgent Need for Change and The Superior Path Forward
PRIORITY #3: ELIMINATE WASTEFUL SPENDING
PRIVET
FUND
We believe our plan can reduce Synalloy's SG&A spend from 10.7% to 8.1%
14.1%
12.6%
UPG
STRONGER TOGETHER
10.7%
Our plan brings SG&A margins directly
in-line with peer group averages at 8.1%
10.6%
Pro-Forma SG&A Margin Comparison
9.4%
1. Source: Public filings
9.0%
Ryerson Ingevity Synalloy Hawkins Inc Trecora Worthington Venator
Holding
Resources Industries Materials
Corp
Inc
PLC
Corp
2019
8.5%
Corporate Overhead Opportunity
Manufacturing Support Opportunity
Total SG&A Opportunity
8.4%
USAP
8.1%
Pro Forma
Synalloy
01. 02. 03. 04. 05.
Still less efficient than 2010
levels (pre-CEO tenure)
6.7%
Our Plan To
Strengthen Synalloy
6.6%
6.4%
Olympic Northwest Synalloy
Pipe Co
Steel Inc
2010
$4.4 million-
260bps
$2.4 million-improvement
$6.8 million
5.4%
Insteel
Industries
Inc
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