1986 FIN – Elco Acquires Reed & Prince; Anchor Wire

May 28

00:00 2012

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1986 FIN ? Elco Buying Anchor Wire

April 24, 1986 FIN – Elco Industries, Rockford, Illinois, appears to be on an acquisition spree.
As you’ll recall, only a short time ago, the company acquired the assets of the Hardware Division of Reed & Prince Manufacturing Co., located in Jaffrey, New Hampshire. That group, which makes packaged fasteners, is being merged into Elco’s Consumer Products Division in Rockford.

Now Elco has announced that it has agreed to acquire Anchor Wire Corp., a privately held company located in Goodlettsville, Tennessee for $8 million in cash.
Anchor Wire Corp. was established in New York in 1946 and moved to Tennessee in 1961. It’s a manufacturer and supplier of picture hanging accessories, finely drawn wire, guy wire, garden tire wire and coiled and spooled wire for retail consumers. These products are sold primarily to the do it yourself market through hardware stores, home centers and mass merchandisers. The company employs approximately 100 people and has annual sales of about $10 million.

Jack W. Packard, president and CEO of Elco said that Anchor Wire will continue to operate at its present site with its current management as a wholly owned subsidiary at Elco.

According to FIN’s records, the present top management at Anchor includes James W. Hogg, president & CEO; B. Barnett Williams, vice president-operations; Robert W. Yeager, vice president-sales; and John Kelly, manufacturing manager. The headquarters address is 425 Church St., Goodlettsville, TN 37072 Tel: (615) 859-1306.

Combining the sales of Anchor and Reed & Prince and Elco’s Consumer Products Division you come up with about $25 to $30 million or approximately 20% of Elco’s business.

James R. Stanberg is vice president and general manager of the Consume Products Division.

Elco Industries is a manufacturer and supplier of precision fasteners and other custom engineered components and products made from metal and plastic. Elco operates Rockford Consumer Products, Construction Products, and Coatings & Finishes divisions in Rockford, Illinois and a Precision Stamping division in Logansport, Indiana. Acme Rivet and Machine Corp., Bristol, Connecticut, and Thermoplastics, Inc., Mishawaka, Indiana, are both wholly owned subsidiaries. The headquarters address is 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

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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