Global Fastener News

1986 FIN – Elco Acquires Reed & Prince; Anchor Wire

May 28
00:00 2012

 

1986 FIN ? Elco Buying Anchor Wire

February 17, 1986 FIN – Elco Industries, Inc., Rockford, Illinois, has entered into an agreement to acquire for cash (amount not disclosed), the assets and business of the hardware division of Reed & Prince Manufacturing Co. located in Jaffrey, New Hampshire.
Jack Packard, president and chief executive officer of Elco Industries, said that the Reed & Prince hardware division operations will be merged into Elco’s Consumer Products Division in Rockford, Illinois.
The move is expected to be made in the next six to nine months.
There are approximately 60 people presently employed by Reed & Prince in its hardware division.
Both the Reed and Prince division and Elco Consumer Products Division market lines of packaged fasteners to the hardware, home center and mass merchant markets.
Elco expects the acquisition o add approximately $7.5 million in the past fiscal year.
According to FIN’s archives, Reed & Prince Manufacturing Co. was founded in Worcester in 1897 and is a family owned corporation. The president is D.B. Richardson Sr., and D.B. Richardson Jr., is vice president-sales, OEM products, and James W. Richardson is vice president-sales, consumer products.
The company which normally employs over 325 people, manufacturers recessed and slotted wood screws, machine screws, tapping screws, stove bolts, solid rivets and cold headed specials. The corporate address is 1 Duncan Avenue, Worcester, MA 01612 Tel: (617) 753-2931.

Elco Industries, Inc., operates Rockford Consumer Products, Construction Products, and Coating Finishes divisions in Rockford, Illinois; and a Precision Stamping division in Logansport, Indiana. Acme Rivet and Machinery Corp., Bristol, Connecticut and Thermoplastics, Inc., Mishawaka, Indiana, are both wholly owned subsidiaries. ©1986/2012 Fastener Industry News
For information on permission to reuse or reprint this article please e-mail: FIN@GlobalFastenerNews.com

 

1986 FIN ? Elco Adds Coatings Division
April 10, 1986 FIN – Elco Industries Inc., Rockford, Illinois, has established a Coatings & Finishes Divisiion in Rockford to coat small metal markets such as fasteners, nuts, stampings, springs and castings.
The 52,000 sq ft, 5-line facility has a capacity of 19 million pounds per year.
Previously, all coatings and finishes operations were conducted as part of the company’s Rockford Division operations.
Facilities of the new division include: all the widely used coatings processes; Stalgard (Elco’s propriety fluorocarbon coating); a selection of treatment cycles including mechanical cleaning, automatic and off-line chromating; controlled pre-treatment water processes; and a hydrogen embrittlement bake oven.
Chuck Williams, who’s division manager, says the new group, besides having a state of the art quality control and corrosion laboratory, also make use of statistical process controls for complete process documentation.
Elco Industries is headquarters at 1111 Samuelson Road, PO Box 7009, Rockford, IL 61125. Tel: (815) 397-5151. ©1986/2012 Fastener Industry News
For information on permission to reuse or reprint this article please e-mail: FIN@GlobalFastenerNews.com

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