Dayco has a focused growth model built on operational excellence, organic growth, geographic expansion and strategic acquisitions with a focus on the industrial sector, according to Bohenick.
On the operational side, it has built a solid reputation as an innovator and its drive to create new products, and solutions is one reason the company has great growth potential, he said. “For example, the technology and manufacturing behind our timing belt-in-oil system is continuously being recognized by our customers as the best solution in the market.
“Dayco introduced the first timing belt-in-oil solution for automotive applications, a technological breakthrough that directly addressed customer focus on lower emissions, increased fuel economy and reduced friction for the engine.”
Bohenick noted that the company is a single source supplier for numerous customers because of its deep catalog and distribution network. “Our future growth will result from the best product range, excellent application and training, and the highest level of service.”
He said the firm's industrial operation is expanding steadily, and it continues to win new business with major industrial and equipment manufacturers.
Dayco focuses on products and systems that directly address the automotive megatrends for engine downsizing and up-powering, the executive said. He sees continued growth in the company's timing belt-in-oil systems, Start-Stop systems and belt systems for electric power steering—all aimed at improving fuel economy.
“We are also working on a new product platform of decoupler products (alternator and crankshaft) with function to significantly reduce NVH for engines and transmissions,” Bohenick said.
It has been successful in winning contracts on global original equipment manufacturers' next generation engine programs, which are expected to increase in volume over the next several years. “Today, many of the engines worldwide move better because of our Dayco products.”
Dayco's aftermarket business is very strong on a global basis, according to Bohenick, “and we have the Nos. 1 or 2 position in the major markets of Europe, North America, South America and Australia.” And in a relatively short time, he added, it has been able to build a good foundation to enable continued growth in China.”
All employees at the firm are aware that Dayco's growth and reputation depend on creating value for its customers, he said. “We seek growth by realizing the economic potential in improving how the world moves, every day—specifically by creating products, systems and customer relationships that endure.
In order to do that, he said, the company needs to continue expanding its product lines and coverage for its customers; evaluate its distributor base by geographic area to ensure it has the ability to expand as the global market grows; continue to manufacture innovative products that last; “and develop and retain our most important resource, the skills and intelligence of our people.”