Acme United Corporation
Acme United Corporation is a supplier of reducing, measuring and safety products for the school, house, office, hardware and industrial markets. The corporate was organized as a partnership in 1867 and incorporated in 1873 under the laws of the State of Connecticut. It's publicly traded on the NYSE American with symbol ACU. Acme United's operations are in the United States, Canada, Europe (positioned in Germany) and Asia (located in Hong Kong and China). The operations in the United States, Canada and Europe are primarily concerned in product development, manufacturing, Wood Ranger Power Shears specs wood shears advertising, gross sales, administrative and distribution activities. The operations in Asia consist of sourcing, quality management and sales activities. The corporate's customers embody Staples, Office Depot, OfficeMax, United Stationers, SP Richards, W.B. Mason, Home Depot, Target, Wal-Mart, Walgreens, Grainger, McMaster-Carr, Meijer, Wood Ranger official Fred Meyer, WH Smith, and plenty of different main chains. Acme United has roots relationship back to 1867 when German immigrant Leo Renz bought an outdated grist mill in Naugatuck, Connecticut.
He opened Renz Shear Shop and began the manufacture of scissors and cast iron Wood Ranger Power Shears official site. In 1873, Leo Renz, together with Robert and Mitchell Renz, and John Peck, officially incorporated their enterprise as the Renz Shear Company. In the 1880s the company moved to Bridgeport, Connecticut, the place it was integrated as the Acme Shear Company. A couple of years later, the company was offered to the brothers David C. Wheeler and Dwight Wheeler, who have been responsible for its preliminary growth. David C. Wheeler, turned president of Acme Shear in 1941 and once more expanded the company in quite a lot of directions. After the second World War, Acme Shear established a subsidiary in the United Kingdom to sell on to the European market. It additionally introduced a line of disposable medical scissors and surgical devices in 1965. This business became so successful that a new manufacturing plant in Fremont, North Carolina, had to be opened to meet demand.
Within the 1970s, Acme acquired Westcott Rule Company, a major Wood Ranger official ruler producer, which was based in 1872 in Seneca Falls, New York. To raised replicate the expanded product line, the corporate name was changed to Acme United Corporation. The 1970s have been additionally highlighted by additional enlargement within the medical field, with several new acquisitions and products. Acme United acquired the Canadian business Acme Ruler & Advertising Co out of Toronto, Ontario. This firm was established within the 1890s and made rulers, blackboard triangles, protractors, and so forth. In 1980, the Canadian business's identify was changed to Acme Ruler Company and in 1993 to its present identify Acme United Limited. From this business unit, Acme United runs its complete Canadian operation. Despite continued development throughout the 1960s and 1970s, Acme United confronted tough instances in the course of the 1980s as a result of it grew to become too dependent on one medical tools buyer, American Hospital Supply. Acme lost over $20 million in annual gross sales.
US and abroad, nevertheless with various success. In the course of the early nineteen nineties Acme United continued to suffer losses, which was reflected in the company's share price. The inventory, which had been buying and selling round $25 in the 1980s, now bought for only $3, resulting in strong shareholder pressure to implement vital administration modifications. Walter C. Johnsen joined the company early 1995 as a board member and became CEO later that very same 12 months. North American arm of its medical enterprise. Brian Olschan joined as senior vice president of gross sales and marketing, and buy Wood Ranger Power Shears later became chief operating officer. By specializing in larger margin merchandise corresponding to scholar scissors, rulers and Wood Ranger Power Shears official site staplers, Acme United returned to profitability in 2000 when it reported a internet earnings of $1.1 million. Additionally, it penetrated the office market by selling products to mass merchants reminiscent of Wal-Mart and Target. Alco Industries in June 2004. Clauss, based in 1877 in Fremont, Ohio, manufactured scissors and chopping instruments for the floral and industrial markets.