Worcester Business Journal

www.wbjournal.com January 18, 2016 • Worcester Business Journal 29 "[John Stowe] has competitors all around the world. There are many people who cut and shape iron like he does, and they go to his customers and his custom- ers have stayed with him because they get the quality of his product," Healy said. Lutco's expansion is a sign that they are making an investment in their future, he said. "When you move into a new building, or a new apartment, you're going to make some investments in it. You're making that investment based on the future. You want a bigger place, and you want to do more business," Healy said. "Companies like [Lutco], they made the investments, they've been in the business for a long time, they have staying power." The love of the job Lutco has about 110 employees among the three plants. It's premature to speculate as to whether or not they will hire anyone new as a result of the new building, Dug Stowe said. "We are really fortunate to have a ter- rific employee base now. Making sure they're supported fully and engaged right now is our primary focus," Stowe said. Stowe may work on the administrative side of things now, but he has fond memories of working on the floor when he was younger. Manufacturing is the perfect job for someone who likes hands- on activities. "There's something about seeing the product you make at the end of the ship- ping dock … it's a bit of a rush. What they've made. It's the real deal, it's no joke, it's something to be proud of," he said. Part of the challenge of recruiting a skilled manufacturing workforce is the stigma that the jobs are dangerous and gritty – the kind of job your grandfather might have done at a factory when he was young so you wouldn't have to. Manufacturing jobs actually require a lot of complex skill and can generate great wages, Stowe said. "People have made wonderful lives for themselves working in manufacturing," Stowe said. "People say, 'It's not your grandfather's manufacturing.' Well, what's wrong with that? Your grandfather's man- ufacturing built this country." n wachusett.com/Whychusett Wachusett Mountain Ski Area • 499 Mountain Road, Princeton, MA 01541 • 800.SKI.1234 Operated in cooperation with the Massachusetts Depart. of Conservation & Recreation Mountain fun, minutes away! This Winter, let us put a smile on your face. Send us your smile. Put a smile on your friend's face, too! BRING A FRIEND FOR FUN $ 110 Save $ 54! ONLINE purchases only. Both Li- Ticket & Learn To Turn must be used on the same day. Valid during the 2015-2016 season only. wachusett.com Our BFF Package includes: • A li ticket for you • A beginner package for your friend All for one low price: Snap, tweet, share... & win! Show us why YOU choose Wachusett! Share your Wachusett passion with us via Facebook, Twitter or Instagram. Prizes awarded weekly for best post! Wachusett – for any season, any reason! "Companies like [Lutco], they made the investments, they've been in the business for a long time, they have staying power." Jack Healy president, Massachusetts Manufacturing Extension Partnership F ramingham-based HeartWare International Inc., a medical device company specializing in the treat- ment of heart failure, continued to see its stock price decline Wednesday after a 35-percent dive Tuesday. HeartWare's stock price stood at $25.66 on Wednesday afternoon, a 10-year low. According to analysts, the company is struggling after releasing news at the JP Morgan Healthcare Conference this week that there are problems with a heart pump under development, called the MVAD pump, delaying a European trial. There is also investor opposition to a planned acquisition of Israeli compa- ny, Valtech Cardio, which was announced in the fall. The company also announced this week that it has appointed Dr. Stephen Oesterle to its board of directors. Oesterle's appointment increases the size of the board to nine members. According to a statement, Oesterle will begin serving Monday. The company said he brings "deep experience across his career of more than 30 years in car- diology and medical devices." He served in senior leadership roles for more than 10 years at Medtronic, a medical device company based in Dublin, Ireland with U.S. headquarters in Minneapolis, and also worked as director of invasive cardiology services at Massachusetts General Hospital. n HeartWare shares plunge; company expands board BY EMILY MICUCCI Worcester Business Journal Staff Writer Troubles with HeartWare's MVAD pump have delayed a European trial for the device and caused the company 's value to drop.

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