Washington, D.C. – The National Association of Manufacturers announced that Shruti Singhal, CEO of Chroma Color Corporation, has been named to the NAM Board of Directors. Singhal will join the NAM Board to bolster the association’s leadership in policy advocacy, legal action, workforce solutions, operational excellence and news and insights. He will help the industry advance a manufacturing competitiveness agenda that promotes opportunity and prosperity for all Americans.
Founded in 1895, the NAM, guided by its Board of Directors, is the largest industrial trade association in the United States, with more than 14,000 members. The NAM is the nation’s most influential manufacturing advocate, and its membership includes some of the world’s most iconic brands and many of the small manufacturers that power the U.S. economy. Approximately 90% of the NAM’s members are small and medium-sized businesses.
The NAM is a one-stop shop for manufacturers, telling the story of our industry and equipping manufacturers with invaluable resources through our news and insights channels and partnerships with the Manufacturing Leadership Council, The Manufacturing Institute and the Innovation Research Interchange.
The NAM and its members are at the forefront of every important policy debate, focusing on solutions to help the industry compete in the global economy and to help the country address challenges ranging from supply disruptions and inflation to the workforce crisis and energy security. Executives on the NAM Board, which comprises leaders representing companies of all sizes in every industrial sector, are the driving force behind the NAM’s efforts.
“I am honored to be a part of the NAM Board and continue to fight for policies that will ensure our continued growth and success as manufacturers,” said Singhal. “Lawmakers need to understand how their policies affect the more than 12.8 million men and women employed in manufacturing. I look forward to sharing my story and the stories of all manufacturers who are keeping our promise to deliver for our people as manufacturing leads our country during these challenging times. I also want to thank Matt Barr, vice chairman of Chroma Color Corporation, for his many years of service on the NAM Board on behalf of our company.”
Board members play a key role in the NAM and the MI’s Creators Wanted campaign, a member-driven initiative to inspire, educate and empower more Americans to pursue careers in modern manufacturing—and to shift perceptions about careers in the industry. The campaign, which supports MI programs for students, women, veterans and other underrepresented communities and features a first-of-its-kind mobile experience and tour, seeks to cut the skills gap by 600,000 workers by 2025 and increase the number of students enrolling in technical schools, vocational schools and apprenticeships by 25%, as well as the number of parents who would encourage their children to pursue a career in modern manufacturing to 50% from 27%.
“Shruti is a recognized leader in our industry, and the NAM will be stronger thanks to his service on our Board of Directors,” said NAM President and CEO Jay Timmons. “Shruti will be a trusted adviser who guides our efforts to overcome current economic challenges and to lay the foundation for long-term growth, allowing the industry to innovate and improve the quality of life for everyone. We will work with lawmakers to strengthen supply chains, expand trading opportunities, grow the manufacturing workforce, reform our immigration system, advance energy security, defend tax reform, ensure a smart regulatory system and more. I look forward to working together to advocate for the men and women of our industry and advance the values that have made America exceptional and our industry strong—free enterprise, competitiveness, individual liberty and equal opportunity.”
Chroma Color Corporation is a leading specialty color and additive concentrate supplier serving diverse markets, including wire and cable, packaging, health care, pharmaceutical, consumer products and others. With the recent acquisition of Epolin, Chroma Color is now the recognized leader in the near-infra-red (NIR) absorptive dye industry, producing proprietary blends to suit the eye protection and light management sectors. Chroma Color’s growth strategy includes robust organic and inorganic growth through nine acquisitions over three years. Chroma’s extensive technical leadership and manufacturing expertise, coupled with its game-changing colorant, has delighted customers for over 50 years: chromacolors.com
-Arsenal Capital Partners-
Chroma Color Corporation’s current investor is Arsenal Capital Partners. Established in 2000, Arsenal is a leading private equity firm that specializes in investments in middle-market specialty industrials and health care business service companies. Since inception, Arsenal has raised institutional equity investment funds of approximately $10 billion. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience and seeks companies typically in the range of $100 million to $500 million of initial enterprise value. The firm works with management teams to build strategically important companies with leading market positions, high growth and high value-add.
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The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12.8 million men and women, contributes $2.77 trillion to the U.S. economy annually and accounts for 58% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org.