Global Fastener News

1979 FIN – Keystone Consolidated Plans to Expand National Lock Fasteners

August 19
00:00 2010

 

October 10, 1979 FIN – Keystone Consolidated Industries Inc. in its annual report for the fiscal year ended June 30, 1980, outlined plans for expanding its various groups – including National Lock Fasteners.
Keystone sales totaled $412,288,000, but net income for fiscal 1979 was down to $1,711,000 from $4,818,000 in the previous year.

Steel and wire accounted for $294,043,000 of net sales; hardware for $68,155,000; and fasteners for $50,090,000.

There have been several changes in the National Lock Group, which was established in August 1979 and includes the company’s hardware (National Lock Hardware) and fastener (National Lock Fasteners) businesses.

Charles W. Holzwarth, formerly president of National Lock Hardware is now president of the National Lock Group.

David B. Sutton is now president of National Lock Fasteners and David A. Bowers is now president of National Lock Hardware.

National Lock Fasteners has plants in Crawfordsville, Indiana; Naucalpan de Juarez, Mexico; and Rockford, Ill.

The Indiana and Mexico operations – IMPEX (for impact extrusion) – were both profitable, but the Rockford operation was not.

At Crawfordsville the company is completing a 20,000 sq ft expansion, which calls for the addition of cold heading equipment for making precision parts for the electronics and auto aftermarkets industries.

At the Rockford plant, a large diameter cold forming header, able to handle up to 1-5/16″ diameter steel rod is now producing large diameter cold-formed parts.

 

In addition to these expansions within the fastener and cold heading segments of the company, Keystone has announced a new wire and wire products plant for Greenville County, South Carolina, and expansion of its wire products plants in Santa Clara, Calif. And Sherman, Texas.

At Sedalia, Missouri, Broderick & Bascom Rope Co. is building a new 190,000 sq ft wire rope plant.

At Sikeston, Missouri, the National Lock Hardware group is operating in a recently expanded plant, which has double the assembly capacity it had formerly.

With all these new and expanded facilities on stream and with a boost in productivity at the Bartonville, Ill., wire and wire products plant and Rockford, Ill., fastener plant – which should come since the company has suggested it might close them if things don’t improve – Keystone should show better results in fiscal 1980 than it did in fiscal 1979.  ©1979/2010 Fastener Industry News.

 

 

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