Pros
It really depends on what motivates you. If you are about the money, then this is a good place to work.
Cons
You can not get anything accomplished because there is much protocol that stops the company from progressing. There are a lot of closed minded, pig headed, short term thinkers who don't want to see change because it scares them or goes above what they can comprehend. Technology advancements are to be avoided because they already have a system that "works". When they do make a technological advance, it's usually an uniformed choice, not based on experience or experienced advice or one watered down by costs that, in the end, hamper the original goal of lean manufacturing or cost savings. There are a lot of people that don't have any hands on experience in manufacturing other than on paper. It's like the owner of a car telling the mechanic how to tune that car when all the owner has done is read about it or had someone else tell them about tuning a car. If you are motivated by the success of developing something meaningful that works to advance the company, have people listen to you and not be frightened or threatened by your experience, you won't be happy here.