1989 FIN – Media Spotlight: Cautiously Growing Lawson Expands on Nuts & Bolts

January 15

00:00 2010

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June 21, 1989 FIN – Lawson Products Inc. was featured in a Crain’s Chicago Business article for growth spurred by fasteners.

Under the headline “Cautiously Growing Lawson Expands on Nuts & Bolts,” the June 5, 1989 issue of Crain’s noted that Lawson’s market position has been helped appreciably by the spate of below-grade, counterfeit fasteners introduced into the marketplace as buyers are looking increasingly to big-name, trustworthy concerns like Lawson.

Some highlights from the Crain’s Chicago article:

• Lawson added a record 47,000 new customer accounts in 1988 bringing the total to 175,000 and in this year’s first quarter another 12,200 additional customers were signed on.

• The company’s independent sales force now exceeds 1,300 agents.

– With the addition of new products in recent months, the company now handles over 21,000 items (particularly nuts and bolts) for industrial replacement and maintenance.

• The company, which has no debt and cash reserves of $28 million is looking for acquisitions.

• Lawson’s market position has been helped appreciably by the spate of below-grade, counterfeit fasteners introduced into the marketplace as buyers are looking increasingly to big-name, trustworthy concerns like Lawson.

• Even if there is an economic slowdown, Lawson would not suffer much (it weathered the 1982 turndown better than most companies) because in a recession companies are more apt to fix up what they have rather than buy new equipment.

Last year Lawson, which went public in 1970, had sales of $166 million (up 13% over 1987) and a net income of $20.3 million or $1.42 per share, also up 13% and Value Line Investment Survey forecasts earnings of $1.70 per share this year. ©1989/2010 Fastener Industry News.

Lawson Building Canadian Headquarters
June 1, 1989 FIN – Lawson Products is building a $3.7 million, 40,000 sq ft Canadian headquarters and distribution center in Mississauga (Toronto), Ontario, to house Lawson Products of Ontario.
BR> Lawson’s Canadian operations, which started in 1984 in a 20,000 sq ft leased facility, have expanded into other areas in Canada, including the Province of Quebec, executive vice president Pete Smith told FIN.
The Canadian division supplies all of the company’s 21,000 product lines, including a full line of fasteners, welding rod and supplies, hydraulic and other flexible hose, fittings and electrical ad shop supplies.
Scott Imers is the Canadian general manager.

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