Global Fastener News

1987 FIN – Rockford Products Back to Being Profitable

September 04
00:00 2014

November 27, 1987 FIN – Contrary to rumors,  Rockford Products Corp., is not going out of business or being sold.

There were rumors that ITW’s Shakeproof Division was in negotiations with Rockford Products to purchase the Rockford, Illinois-based company, but Shakeproof president, Frank Ptak, told FIN that Shakeproof has never approached Rockford Products and has no intention to do so in the near future.
Rockford executive vice president Tom Johnson told FIN that a lot of negative talk about the company started after former chairman Jack Rauh, left last February and was succeeded by Ray Wood, a former executive with Ingersoll. Rauh had successfully initiated an ESOP for Rockford, but the company’s track record of poor continued. Vice president of manufacturing, Harold “Bill” Naill and others also left.
On the positive side, however, Johnson informed FIN that since last February, the company has shown profits for every quarter. He also brought us up to date on the company’s management reorganization.
About a year ago, Rockford left the operations of its division intact, but consolidated the management of two divisions into a single entity. Its International Division and its packaged Fastener Division were combined to form the International Group. Richard “Dick” Goff – former vice president of the Packaged Fastener Division – was named as vice president of this new group.
In October of this year, the Cold Formed Products manufacturing division was split into two divisions, Small Diameter and Large Diameter. Dave Johnson, (no relation to Tom) has been named as manager of Small Diameter products, which include fasteners from 5/16 in. and below.
Jerry Ekberg, formerly manager of manufacturing for the entire division, has been named manager for Large Diameter products, which obviously includes fasteners above 5/16 in.
Reporting to Johnson, who was named executive vice president in October, are three people who will handle the company’s sales, manufacturing, and purchasing responsibilities. Wayne Johnson (also no relation to Tom) has been named director of sales and marketing. He has been with the company for 28 years in various sales capacities. James Hartman has been named director of engineering, responsible for all manufacturing, tooling manufacturing, and plant maintenance. And Gil Styles, formerly manager of purchasing, will add the responsibilities of inventory control, shipping and receiving, and order entry as in his new position of manager of materials.  ©1987/2014  Fastener Industry News.
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