Global Fastener News

1987 FIN – RB&W Elects Molnar as President

January 24
00:00 2014

 

May 6, 1987 FIN – RB&W Corporation, Mentor, Ohio, has named Siegfried Molnar, 46, president and chief operating officer.
In his new post Molnar will have responsibility for the overall coordination and operation of the company’s International Division; Brooklyn Heights, Ohio, and Metal Forming and Distribution Divisions, both headquartered in Mentor, Ohio.
Reporting to Molnar will be Donald R. Lockwood, vice president of the International Division; Paul G. Lowe, vice president and general manager of the Metal Forming Division; and Andrew A. Arena, vice president and general manager of the Distribution Division.
Molnar joined RB&W in July 1986 as vice president-finance and planning and in October 1986, was elected senior vice president, primarily responsible for the Metal Forming Division.
Prior to joining RB&W, Molnar was chairman of RBS Industries, Inc., Milford, Connecticut (parent company of Milford Rivet) and before that he held management positions with the Carborundum Co., Ampex Corp., and The Boeing Co.
RB&W’s John J. Lohrman, chairman and chief executive, has also been president of the company since about 1973 but has not, of late, been using that title publicly. Lohrman, incidentally, was recently named to the NIFS Hall of Fame and will be inducted into this group in Columbus.

RB&W Corp., is one of the country’s largest manufacturers of fasteners in the domestic industry with six manufacturing plants in Chicago, Illinois (screw products); Cleveland, Ohio (screw products); Rock Falls, Illinois (screw products); Coraopolis, Pennsylvania (nut products); Kent, Ohio (nut products); Toronto, Ontario, Canada (nut products); and Coldwater, Michigan (powdered metal products).
In 1986 sales of the manufacturing divisions were $102.9 million.
RB&W’s Distribution Division is comprised of 38 fastener Service Centers (The Fastener House group, operating mainly in the Midwest, Great Lakes area and the east, and the Bosco Group, operating mainly in the west and southwest) in five geographical regions. Nine of these service centers, located in the southwest were acquired last year.  Sales of the Distribution Division in 1986 were $55.9 million.
The International Division serves as an overseas product sourcing group for the Metal Forming and Distribution Divisions.

RB&W History
For the historical minded readers of FIN, here’s some background on RB&W.
The company was originally started to make wood screws in Pemberwick, Connecticut in 1845 by Ellwood Burdsall, who was a clerk in a stove foundry, and William E. Ward, a mechanic for a novelty company, who rented space in a button factory operated by Russell, Mackay & Beach.
Shortly after start up, production (on machinery invented by Ward, who later invented the first automatic cold header and first automatic feeder for a bolt machine) was switched to stove bolts and nuts.
To obtain additional capital, Burdsall sold a one-third interest in the company to the button factory. In 1851, Russell bought the interests of both Mckay and Beach and Russell, Burdsall & Ward was born. The company later moved to Port Chester, New York and closed that plant in 1974 when it moved to Mentor, Ohio (to a plant built by Monogram for its National Screw Division but never occupied by that group). That plant was later sold and RB&W moved operations from that plant to a former Lamson & Sessions’ plant in Cleveland.
In 1981 the controlling interest in Russell, Burdsall & Ward was acquired by Automotive Hardware Ltd. of Canada (now a part of Ivaco, Inc. of Canada). While associated with Automotive Hardware, Russell, Burdsall & Ward acquired most of Lamson & Sessions fastener making operations (and sold off its Mangel Stores which it had merged with in 1978).
At the end of 1984, Automotive Hardware sold back its 50.1% of RB&W for $20 million, financed by a common stock issue paid for from the proceeds of three terminated pension funds which were replaced by a new Employee Stock Ownership Program.
Last year the company officially changed its name from Russell, Burdsall & Ward to its present RB&W Corp.
RB&W Corp. is headquartered at 5970 Heisley Road, Mentor, Ohio 44060. ©1987/2013 Fastener Industry News.
For information on permission to reuse or reprint this article please e-mail: FIN@GlobalFastenerNews.com

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