Adjusted debt to capital ratio is a non-GAAP measure used to evaluate our capital structure excluding the impacts of AOCI and the cumulative change in fair value of funds withheld and modco reinsurance assets, net of DAC, DSI, rider reserve and tax offsets.
We include the underlying investments supporting our assumed funds withheld and modco agreements in our invested assets calculation in order to match the assets with the income received.
So, one of the first steps was for marketing, sales, and engineering teams to generate realistic forecasts of future market conditions, potential sales, and predicted product requirements for MODCO, including probable new product developments and the phasing out of obsolete items.
The quality control department started its assigned task of updating MODCO documents, manuals, and procedures to reflect the new location, processes, and equipment to maintain our ISO site-specific certifications.
The final step will be to relocate Modco manufacturing operations from its current, remote facility in Windsor, Ont.
Says Tim Dowd, VP of operations for Valenite, "The consolidation of the Modco manufacturing capabilities with the Valenite tooling facility units our design, engineering, and applications research resources." Further, he adds, the reorganization will allow the Modco teach to better focus on core product lines and strategies.
Dowd, MODCO general manager and director of this year's event, commented on the relationship between the auto industry and MODCO, which has now surpassed 60 years.
"They exemplify the powerful best from eras past, and pay tribute to the innovative engineering and manufacturing that we at MODCO, Gaging Systems, and all of Valenite are proud to contribute to the automotive industry," Dowd said.
The tie-in with the automakers is a natural one for Valenite's MODCO and Gaging Systems divisions.
This year's "Muscle at MODCO" event attracted 28 vehicles, 19 from Valenite employees and nine from customers, to its Oak Park, Michigan, facility.
"Today, not only do you have to be a one-stop source for tools and components, but you have to turn quotes on tooling systems around quickly to stay in the hunt for the business," Jim Robinson, technical program director, Valenite MODCO
Division tells T&P.
Originally named Modern Corporation and later MODCO
, the company's first products were custom-made form-ground high-speed-steel tools, followed soon after by special brazed-carbide cutting tools.