Lenders Stop National Machinery Operations
Lenders Stop National Machinery Operations
John Wolz
The future of 125-year-old National Machinery Company is in doubt after lenders required it to stop operations, causing concern especially among North American fastener manufacturers.
National Machinery was earlier scheduled to be closed December 21, 2001, to January 7, 2002, for the holidays.
A customer support service line remains open for messages.
Rob Harris, managing director of the Industrial Fastener Institute, said some North American manufacturers use 100% National Machinery and rely on the Tiffin, OH-based company for parts, service and training.
Manufacturers are contacting Ohio members of Congress and the Department of Defense to warn them of the implications of National Machinery going out of business.
“The Defense Department usually does wants domestic sources,” Harris explained.
The U.S. government may thus be interested in a loan guarantee, Harris said.
National is best known for its Formax machines. More than 16,000 National machines are used in most industrialized countries and National has service centers in Nagoya, Japan, and N�rnberg, Germany, in addition to the Cleveland area. National has more than 12,000 forecasted parts and 70,000 OEM components in inventory.
In addition to rivets, bolts and nuts, National machines produce automotive and bearing industry parts. �2002 FastenerNews.com
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