Dr. Vernon Krieble Company Essay - 957 Words

Loctite de Mexico, S.A. de C.V. Background and History Dr. Vernon Krieble founded Loctite Corporation in 1953 in Hartford, Connecticut; he was a retired Trinity College chemistry professor (Merchant Van der Stede, 2012). Loctite was originally founded as American Sealants Co. American Sealants Co’s first product was n anerobic sealant, called Loctite. Loctite was the top sealant producer in the world for anerobic sealants, it maintained dominant at 85% in market shares in 1992. By 1992, Loctite produced a broad range of different sealant and adhesive products around the world. Loctite was ranked 477th on the Fortune 500 list of the largest US industrial corporations and employed 3,500 people. Loctite operated in 33 countries around the world and in six major marketing areas. The company was organized into four different geographical groups: North America, Europe, Latin America, and Asia/Pacific with North America and Europe being the largest groups. (Merchant Van der Stede, 2012) Mexican Environment The Mexican environment is considerably different from the United States. Jose Monteiro will need to consider Mexico’s culture when designing and using his management control system. Mexican employees seem to be more group oriented than individual oriented, as they are in the United States. As a result, Jose needs to familiarize himself with Mexico’s culture, and understand what motivates employees to work hard. Mexico is a highly competitive market and has a