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Aluma began in 1992 with a simple idea for a lightweight golf cart trailer. Today, the Bancroft company produces over 100 different aluminum trailer models for customers across North America. In this episode of Made in Iowa, host Leisa Fox talks with longtime CEO Mike Lloyd about the product decisions, people and manufacturing discipline behind that growth, and the ownership transition now shaping Aluma’s next chapter.
Lloyd explains why aluminum became the company’s advantage, how Aluma continued expanding its product line, and what automation can and cannot solve in a rural manufacturing operation. He also addresses recent headwinds, including flat sales, volatile metal costs and tariffs, and the constant challenge of building and retaining a skilled workforce in northwest Iowa.
The conversation turns personal as Lloyd discusses the decision he and his siblings made to sell the family business to Novae. He retained an ownership stake and plans to continue leading during the transition. It is a candid look at succession, timing and the responsibility to protect the employees, dealers, quality and community identity that made Aluma valuable in the first place.
Presenting sponsor: Wellmark Blue Cross Blue Shield https://www.wellmark.com/Made-in-Iowa
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