Summary
Overview
Work History
Education
Skills
References
Timeline
Generic

Kurt Tonhaeuser

Hartford

Summary

Dynamic finance executive with proven expertise in financial reporting and strategic planning at Woerwag Coating, LLC. Achievements include enhanced cash flow management and process improvements that delivered significant operational efficiencies. Strong leadership skills foster employee development, resulting in innovative financial solutions that drive organizational success. Career objectives focus on leveraging finance acumen to further enhance company performance and growth.

Overview

37
37
years of professional experience

Work History

Sr. Business Manager

PPG Woerwag Coatings, LLC.
Lafayette
09.2020 - Current
  • Company Overview: Woerwag is a leading provider of chemical coating products mainly for the automotive and industrial markets
  • Acquired by PPG Industries, Inc in May 2021 and absorbed int he Automotive Coatings Division
  • The US facility, is a subsidiary of Karl Woerwag Lack- und Farbenfabrik GmbH & Co
  • Producing high-tech liquid, powder and film coatings, paints, primers and liquid coating systems for automotive, furniture, machinery and other industrial use
  • Responsible for managing all facets of internal and external accounting, HR and Purchasing
  • Additional responsibility for the financial reporting of the Mexican facility
  • Monthly and annual consolidation from US GAAP to German reporting standards
  • Month end close, year-end audit, physical inventory and annual operating plan
  • Producing monthly KPI's, reviewing with management team, planning, and implementing process improvements
  • Woerwag is a leading provider of chemical coating products mainly for the automotive and industrial markets
  • The US facility, is a subsidiary of Karl Woerwag Lack- und Farbenfabrik GmbH & Co
  • Producing high-tech liquid, powder and film coatings, paints, primers and liquid coating systems for automotive, furniture, machinery and other industrial use

Director of Finance

Axis Automation
Delafield
12.2019 - 09.2020
  • Company Overview: Manufacturer of automated decorating and finishing machines for the baking and snack food industry
  • Responsibilities include month end close, annual budget, payroll, HR, year-end audit and tax
  • Part of the executive management team with responsibilities which include managing of projects insuring they stay on time and at or under budget
  • Analyze operational efficiency in both engineering and production
  • Responsible to develop an operating plan to present to potential banks and investors to secure financing for the business
  • Manufacturer of automated decorating and finishing machines for the baking and snack food industry

Vice President of Finance

Schunk Carbon Technology, LLC.
Menomonee Falls
01.2018 - 12.2019
  • Company Overview: Schunk Carbon Technology (SCT) is part of the Schunk Group headquartered in Heuchelheim Germany, with world-wide sales of over $1.2 billion
  • The company consist of four divisions, Schunk Carbon Technology, Weiss Technik, Schunk Sinter Metals and Schunk Sonosystems., offering a broad spectrum of products and services in the fields of carbon technology, ceramics, environment simulation technology, sintered metal and ultrasonic welding
  • Current role was split into two parts: Regional Controller for 4 manufacturing facilities generating sales of $90mm in North America; Schunk Xycarb Technology in Georgetown TX, Schunk Sonosystems in Wilmington MA, OptoTech in Germantown WI and Palm PA., reporting directly to the head of group controlling in Germany and dotted line relationship to plants
  • Responsibilities include monthly analysis reporting, annual budget, year-end audit and tax
  • Supporting each company president in quarterly presentations to the Executive Management Group in Germany
  • Corporate Controller for SCT located in Menomonee Falls, WI reporting directly to the President
  • Responsible for managing all facets of internal and external accounting, purchasing, and inventory control with a direct team of 4
  • Maintaining standard cost, variance analysis, product profitability and reporting within the SAP ERP system
  • Quarterly conversion of financials to German reporting (HBI & HBII)
  • Additional responsibilities include assisting the parent company with special projects, including due diligence for the successful acquisitions of Cincinnati Sub Zero, and leading the process improvement project of the finance department at Weis Technik North America
  • Process improvements included a formalized procedure for monthly account reconciliation, segregation of duties, significant reduction of DSO, and accurate and timely reporting
  • Schunk Carbon Technology (SCT) is part of the Schunk Group headquartered in Heuchelheim Germany, with world-wide sales of over $1.2 billion
  • The company consist of four divisions, Schunk Carbon Technology, Weiss Technik, Schunk Sinter Metals and Schunk Sonosystems., offering a broad spectrum of products and services in the fields of carbon technology, ceramics, environment simulation technology, sintered metal and ultrasonic welding

Controller, CFO

Newcomb Spring Corp.
Stonecrest
01.2013 - 01.2018
  • Company Overview: Manufacturer of various springs including compression, extension, torsion and wire forms and stamped metal products generating sales of $50 million
  • Reporting directly to the owners and responsible for all finance, accounting, IT and human resource activities for 8 plants throughout the United States and Canada
  • (5 direct reports)
  • Preparation of the annual operating budget
  • Headed the implementation and upgrade of the Exact for Jobboss ERP system to harmonize manufacturing reporting at all plants
  • Consolidated monthly financial reports for all facilities
  • Cash management, banking-including covenant compliance, audit and tax
  • Fiduciary for company 401k plan
  • Develop standardized reporting, including cost variance and profitability reports for manufacturing operations
  • Responsible for annual inventory, budget and year end closing
  • Performed due diligence for acquisition of spring manufacturers
  • Manufacturer of various springs including compression, extension, torsion and wire forms and stamped metal products generating sales of $50 million

Director of Finance & Administration, CFO

Bielomatik, Inc.
New Hudson
01.2009 - 01.2013
  • Company Overview: Responsible for all finance, accounting, IT and human resources for North America for this manufacturer of plastic welding machinery and minimum quantity lubrication technology
  • Involved in the daily operations of the company, particularly in the planning, monitoring and execution of capital projects
  • Preparation of the annual operating budget
  • Developed and executed restructuring plan to make the company profitable
  • Successfully implemented a manufacturing assembly schedule and matrix to monitor project costs, progress and milestones
  • Worked with vendors to establish more favorable payment terms based on our project schedules, resulting in improved cash flow
  • Responsible for all finance, accounting, IT and human resources for North America for this manufacturer of plastic welding machinery and minimum quantity lubrication technology

Controller

Stahl a Scott Fetzer Company
Wooster
01.2008 - 01.2009
  • Company Overview: A subsidiary of Berkshire Hathaway Inc
  • Responsible for all accounting, human resource and information technology functions for this manufacturer of service bodies, dump bodies, utility van bodies, stake bodies, toolboxes, cranes and truck accessories
  • Prepare the annual operating plan for the four manufacturing plants throughout the United States
  • Establishing standard costs along with monitoring manufacturing efficiencies
  • Work together with Vice President of Manufacturing and Plant Managers to improve manufacturing efficiencies by analyzing throughput and value-added processes
  • Identify cost savings areas such as outsourcing non-value added processes and reducing indirect labor
  • Responsible for inventory control
  • Reduced overall inventory by 20% while increasing turns
  • Worked closely with the purchasing department to successfully negotiate a steel contract thus stabilizing material costs for 2009
  • Calculating LIFO reserves
  • Developed a 'what if' pricing model used for analyzing various scenarios allowing for a more accurate quoting process
  • Final sign off of all quotes to ensure protecting the gross margin
  • Audit of post manufacturing costs vs
  • The quoted amounts
  • Responsible for working capital management
  • Continuous involved in the due diligence on a series of potential acquisitions
  • A subsidiary of Berkshire Hathaway Inc

Regional Director of Finance North America

Pepperl - Fuchs, Inc.
Twinsburg
01.1998 - 01.2008
  • Company Overview: A subsidiary of Pepperl-Fuchs, GmbH Mannheim, Germany
  • Responsible for all finance, accounting and human resource functions in North America, (including Canada and Mexico) for this manufacturer of electronic sensors with sales of $80 million
  • Overall management of an accounting staff of 7 in the US, and 3 in Mexico along with a human resource staff of 3
  • Responsible for virtually all benefit and employee matters in support of more than 300 employees in the U.S., Canada and Mexico
  • Utilize financial analysis and forecasting tools to develop and prepare the $80 million annual budget
  • Oversee financial statement preparation, AP/AR, billing, and payroll functions
  • Administered a transfer price study between the US and Mexican operations in order to change the current method of doing business
  • Successfully implemented a re-sale minus method of accounting in Mexico
  • Revised the company health care plan minimizing the increased health care costs without sacrificing coverage
  • Fiduciary for 401k plan
  • Involved in process improvements with regard to transfer pricing between subsidiaries in Singapore and Germany
  • Implemented new ERP and financial reporting systems (Movex) in both the US and Mexico
  • Implemented Concur Expense reporting software which resulted in significant savings to the company
  • Consolidated the Mexican operation as part of the US operation
  • A subsidiary of Pepperl-Fuchs, GmbH Mannheim, Germany

Sr. Tax Analyst/Independent Tax Consultant

Caliber System, Inc./Roadway Express Inc.
Akron
01.1988 - 01.1998
  • Company Overview: Formerly Roadway Services, Inc., now a part of Federal Express
  • Prepared U.S
  • Federal and State Income, Franchise, Annual Business License and Excise Tax returns
  • Developed complex spreadsheets, using Excel to facilitate the preparation of the above noted returns
  • Preparing and reviewing tax accounting entries for financial statement presentation
  • Creation of a fixed asset system to be used for both book and tax
  • Formerly Roadway Services, Inc., now a part of Federal Express

Education

Bachelor of Science Degree - Accounting, Industrial Management

The University of Akron
Akron, OH

Associate of Applied Business Degree - Marketing, Sales Technology

The University of Akron
Akron, OH

Skills

  • Financial reporting
  • Budget management
  • Cash flow management
  • Process improvement
  • Cost analysis
  • Strategic planning
  • Team leadership
  • Inventory control
  • Employee development
  • Mergers and acquisitions
  • Policy and procedure development
  • Staff development
  • Conversant in German
  • ERP Systems

References

References available upon request.

Timeline

Sr. Business Manager

PPG Woerwag Coatings, LLC.
09.2020 - Current

Director of Finance

Axis Automation
12.2019 - 09.2020

Vice President of Finance

Schunk Carbon Technology, LLC.
01.2018 - 12.2019

Controller, CFO

Newcomb Spring Corp.
01.2013 - 01.2018

Director of Finance & Administration, CFO

Bielomatik, Inc.
01.2009 - 01.2013

Controller

Stahl a Scott Fetzer Company
01.2008 - 01.2009

Regional Director of Finance North America

Pepperl - Fuchs, Inc.
01.1998 - 01.2008

Sr. Tax Analyst/Independent Tax Consultant

Caliber System, Inc./Roadway Express Inc.
01.1988 - 01.1998

Bachelor of Science Degree - Accounting, Industrial Management

The University of Akron

Associate of Applied Business Degree - Marketing, Sales Technology

The University of Akron

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