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Shiloh Industries CEO is award finalist

A Liverpool Township businessman was named a finalist for the second consecutive year for an entrepreneurial award.

Ramzi Hermiz, president and CEO of Shiloh Industries Inc., is one of 26 businesspeople named in Northeast Ohio for the EY Entrepreneur of the Year Award, which recognizes business leaders in more than 60 countries throughout the world.

Shiloh, which has been listed among the Forbes Top 100 Best Small Companies, manufactures auto body, chassis and powertrain components.

“This honor is a reflection of the hard work and continuous success of Shiloh and its people,” Hermiz said in a statement. “I am humbled to again to be among the esteemed group of men and women who are recognized for their entrepreneurial spirit.”

Hermiz joined Shiloh in 2012.

In the past two years, the company has more than doubled annual revenues to more than $1 billion.

For its second quarter of 2015, Shiloh reported net income of $7.2 million, or 42 cents a share.

A year ago, the maker of auto components said profits for the same period were $8.1 million, or 47 cents a share.

Net revenues were $280.4 million, an increase of 34.2 percent compared with $209 million in the second quarter of 2014.

The company said in a statement that the increase in sales was attributable to “acceptance of our leading technologies and the recent strategic acquisitions.”

On April 20, Shiloh announced a joint venture with Suzhou Sanji Foundry Equipment Co. Ltd. in Nantong, China.

Shiloh said the joint venture will manufacture “CastLight” products with “high pressure die casting and squeeze casting expertise.”

For the first six months of its fiscal year, Shiloh had net revenues of $537.5 million, up from $392.5 million in the same 2014 period.

Net income totaled $10.9 million, or 63 cents a share, down from $13.1 million, or 76 cents a share.

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