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Viellard Migeon & Cie (VMC) is a renowned industrial family-owned company in Morvillars, France, with a rich history spanning over two centuries. Specializing in steel transformation, VMC operates in three primary sectors: a) manufacturing fish hooks and fishing tackle, b) producing and distributing welding consumables and methods, and c) crafting automobile, aerospace fasteners, and medical implant devices. The company's diversified portfolio, with roots in the Forge industry of Eastern France reflects their ability to balance tradition alongside innovation.
LEGAL STRUCTURE OF THE GROUP
Source: https://www.viellardmigeon.com/en/key-figures-vmc.htm
The story of VMC traces back to 1796 when Jean-Baptiste Migeon and Jean-Baptiste Dominé acquired forges in Morvillars, France, initiating industrialization in the region. In 1835, Laure Migeon married Juvénal Viellard, leading to the formation of Viellard-Migeon and Cie. Initially focused on non-compete agreements in the fastener industry, VMC ventured into fish hook manufacturing in response to market shifts, particularly Mustad's (Norwegian competitor) entry into the French market in 1909.
Diversification through Global Expansion and Strategic Partnership:
VMC's fish hook manufacturing journey has been marked by strategic diversification and significant technological advancements. Post-World War II, faced with intense Norwegian competition, VMC automated its processes and expanded production to meet demand in regions such as French Indochina and the United States. Although VMC encountered setbacks, including the loss of Indochina and increasing competition, the company adapted by downsizing, automating, and restructuring its organization. To counter the rising Asian competition, VMC undertook further restructuring, extending its export reach to 60 countries and establishing itself as the world's second-largest hook manufacturer. In 2000, VMC's merger with Rapala, a leader in fishing lures, solidified its position as a formidable entity in the fishing tackle market. This strategic partnership underscored VMC's commitment to growth and adaptation within a globalized industry.
Source: https://www.henokiens.com/content.php?id=51&id_membre=2&lg=en
Leveraging Local Knowledge and Expertise:
In the 1970s, a local employee who was deeply immersed in the culture of ironwork developed a groundbreaking machine. This innovation was kept secret within the company, and it remains a key competitive advantage, underscoring the significance of local knowledge in driving innovation.
Transmitting Tradition to the Next Generation:
The transmission of VMC's legacy to the next generation is governed by well-defined criteria. While academic qualifications are considered, emphasis is placed on personal attributes such as natural authority, collaborative skills, and ethical conduct. VMC ensures that future leaders possess the necessary qualities to uphold the company's values and drive its continued success.
Important learnings from VMC’s Legacy
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