Hillenbrand Inc and the CEO Kenneth Camp, have acknowledged funeral industry and Casket sales decline. The company executive has decided to live with the reality that is there. People are paying less funeral cost and many are continuing to live with the reality of the funeral industry decline.
Hillenbrand Inc. CEO Kenneth Camp might have been content for his company to stick to the casket business, given its predictability.
But with the public’s preference for cremation gaining on casket burials, he knew the company needed a new way to grow. Now, nine months after Hillenbrand closed on the $435 million purchase of Pitman, N.J.-based K-Tron International Inc., which makes manufacturing equipment, Camp is more convinced than ever that diversification was the right move.
“Batesville Casket will always be the bedrock, but we think it’s the right time for us to use some of our existing tools in an industry that can be another leg on the stool,” Camp said in an interview this week.
Batesville Casket will continue to diversify in the years ahead. As the funeral industry declines, more alliances between companies like Batesville and other vendors will continue.
Funeral Industry|FuneralNews| Funeral Blog by Your Funeral Guy
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