P.O. Box 482
Mendham, NJ 07945 – 0482
Phone: 973 715 8907, Fax : 973 543 1477
Shashi Parekh has eight year experience in merger / acquisition/ alliance, turn around and financing with good conceptual and strategic strengths. Prior experience include development and commercialization of new process / product technologies, including twenty year of leadership experience at GE Plastics, Honeywell, Hoechst Celanese, Polymer Processing Institute, and Bay Resins.
At NJMEP Inc, Shashi provided leadership in driving two mergers. Both mergers increased the sale by $ 5MM for his client company. He implemented lean strategy at this company to reduce their OH costs by $ 1MM, increase their two line productivity by 20%, reduce inventory by $ 1.2MM, resulting into a major business turn around. He also provided financing support to his client to reduce their debt costs.
At GE Plastics, Shashi lead a process development team for commercializing Ultem, a high temperature plastic, (a highly profitable $ 200MM GE business). He was nominated for “man of the year” award for his timely commercial process development for making Polyetherimides ( patent # 4,417,044), which reduced capital investment by $ 5MM.
He also lead a team of engineers and technicians for building a state of the art Plastic Process Development Center, with injection and blow molding, multilayer extrusion and blown film capabilities for new business development. This center was for customer innovation for new product and process ideas resulting into over $ 20MM new GE business. Shashi got a stock option award from GE board of directors for his process technology leadership at GE Plastic business, (given to select key performers), and several management awards for outstanding contribution to GE plastic new business.
At Hoechst Celanese, Shashi developed process models of biaxial orientation and crystallization of PET film. The process understanding increased line productivity by 30% and reduced capital outlay by 50%. He was a R& D representative on New Film line project team, responsible for design, installation and start – up of new production lines.
He holds four patents in Plastic Technology for making polyetherinides and composites, recycling and thermoforming. He has chaired two Process technology sessions in Polymer Processing Society and International Plastic Conference.
Shashi holds a M.B.A. from Cleveland State University and a M.S. in Chemical Engineering from Carnegie Mellon University.
A client company had lost almost $ 2 MM in annual revenues due to Chinese competition, and down sizing by their customers. Shashi engineered two mergers for this client to increase their sale by $ 5 MM. One of Shashi’s client companies did not have family succession for his business – he wanted to retire. Shashi’s another client had a lucrative offer for their building, and was considering moving his business to another location. SLP helped both of these companies to merge with his $ 12MM client, creating a profitable endeavors for three parties.
SHASHI L. PAREKH, LLC
$ 2MM business stays in U.S.
In this tough competitive environment, U.S. manufacturers have to drive their costs down to be globally competitive – specially to compete with China.
One of SLP’s client companies had a major challenge. One of their major customers wanted to move all their production to China to save 25% costs. The client approached Shashi, for a business strategy to keep this customer from outsourcing their production to China. They met the customer’s purchasing head, and asked some time to implement lean manufacturing methods in their molding and assembly operations for reducing their costs. Over a four-week period, their plant team applied value stream mapping, set up reduction and cellular manufacturing methodologies to reduce costs by 15%. The major client decided to keep business in U.S. – as 10% extra costs were outweighed by on time delivery and better communication for quality issues. The client also gave another $ 1MM business from other location.
SHASHI L. PAREKH, LLC
$ 200 MM business for GE Plastics
At GE Plastics, Shashi lead a polymerization process development team for commercializing Ultem, a high temperature plastic, (a highly profitable $ 200MM GE business). GE had invested over 15 year of development costs with several professionals at their Schenectady R& D Laboratory for development of this new polymer structure. However, their scale- up process was not commercially feasible due to precise stochiometric reaction requirements, and there was not sufficient polymer produced to develop commercial applications. Shashi was selected to lead polymerization scale up team. The team produced several hundred pounds of new polymer in short period, and then developed a new lower cost patented process to commercialize new plastic. Shashi was recognized by nomination to “man of the year “ and several management awards and a promotion. GE invested over $ 150MM in new plant for manufacturing this product, which has become a very profitable business.
He also lead a team of GE engineers and technicians for building a state of the art Plastic Process Development Center, with multilayer extrusion and blown film capabilities for packaging markets. This center was for customer innovation for developing new product and process ideas. He also was a manager for Lexan film process development team, successfully trouble shooting and starting up a new high speed manufacturing line.
At Hoechst Celanese, Shashi developed process models of biaxial orientation and crystallization of PET film, and validated process parameters with pilot plant runs. His process findings provided vital technical support for heavy and thin gauge film manufacturing in the plant, increasing line productivity by 30% and reducing capital outlay by 50%. He has good understanding and knowledge of PET film process parameters and their effects on film morphology. He was a R& D representative on New Film line project team, responsible for design, installation and start – up of new production lines.
Shashi holds four patents in Plastic Technology for making polyetherinides and composites, recycling and thermoforming. He has chaired two Process technology sessions in Polymer Processing Society and International Plastic Conference
SHASHI L. PAREKH, LLC
Jack Welch is regarded as one of the most effective CEOs in business history. He transformed GE from $ 15 B conglomerate to $ 500 B, lean enterprise over his tenure. Shashi was a part of this GE transformation during early years, and was trained at their Crotonvile leadership training center, in work out, best practices, empowering people, six sigma and lean manufacturing.
Shashi had applied some of intrepreneurship training in developing new businesses for GE and his new clients for his consulting business.