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Closing the Competitive Gap

In 2003, Charter Manufacturing Company, Inc. began the implementation process in the third quarter of the program named "Closing the Competitive Gap". This program will include defined targets to significantly reduce the Company's overall operating costs over the next 18 to 24 months. One aspect of this program is the implementation of Six-Sigma throughout the company. The program at this time has been rolled out at Charter Steel and the corporate office. Milwaukee Wire Products and Charter Wire will be instituting this program into their facilities at a later date. Charter Steel has filled four positions that will become Black Belts and assist in overseeing their Six Sigma program. Charter Steel has also begun to train key personal with Green Belt training and several projects are underway.