Acme United Corporation
Acme United Corporation is a supplier of reducing, measuring and security merchandise for the school, home, office, hardware and industrial markets. The company was organized as a partnership in 1867 and integrated in 1873 under the laws of the State of Connecticut. It is publicly traded on the NYSE American with image ACU. Acme United's operations are within the United States, Canada, Wood Ranger shears Europe (situated in Germany) and Asia (positioned in Hong Kong and China). The operations within the United States, Canada and Europe are primarily involved in product growth, manufacturing, advertising, sales, administrative and distribution activities. The operations in Asia include sourcing, high quality control and gross sales activities. The company's customers embrace Staples, Office Depot, OfficeMax, United Stationers, SP Richards, W.B. Mason, Home Depot, Target, Wal-Mart, Walgreens, Grainger, McMaster-Carr, Meijer, Fred Meyer, WH Smith, and lots of different main chains. Acme United has roots relationship back to 1867 when German immigrant Leo Renz purchased an outdated grist mill in Naugatuck, Connecticut.
He opened Renz Shear Shop and started the manufacture of scissors and cast iron Wood Ranger shears. In 1873, Leo Renz, together with Robert and Mitchell Renz, and John Peck, officially integrated their enterprise because the Renz Shear Company. In the 1880s the corporate moved to Bridgeport, Connecticut, where it was integrated as the Acme Shear Company. A couple of years later, the corporate was sold to the brothers David C. Wheeler and Dwight Wheeler, who had been answerable for its initial growth. David C. Wheeler, became president of Acme Shear in 1941 and again expanded the corporate in plenty of directions. After the second World War, Acme Shear established a subsidiary in the United Kingdom to sell on to the European market. It also introduced a line of disposable medical scissors and surgical devices in 1965. This business turned so profitable that a brand new manufacturing plant in Fremont, North Carolina, needed to be opened to fulfill demand.
In the 1970s, Acme acquired Westcott Rule Company, a significant ruler manufacturer, which was founded in 1872 in Seneca Falls, New York. To raised mirror the expanded product line, the corporate identify was modified to Acme United Corporation. The 1970s have been additionally highlighted by additional enlargement in the medical discipline, with several new acquisitions and products. Acme United acquired the Canadian business Acme Ruler & Advertising Co out of Toronto, Ontario. This company was established in the 1890s and made rulers, blackboard triangles, protractors, and many others. In 1980, the Canadian business's name was modified to Acme Ruler Company and in 1993 to its current name Acme United Limited. From this business unit, Acme United runs its complete Canadian operation. Despite continued growth during the 1960s and 1970s, Acme United confronted rough instances during the 1980s because it turned too dependent on one medical tools customer, Wood Ranger Power Shears manual American Hospital Supply. Acme misplaced over $20 million in annual sales.
US and abroad, Wood Ranger shears nonetheless with various success. In the course of the early 1990s Acme United continued to endure losses, which was reflected in the company's share value. The inventory, which had been buying and selling round $25 within the 1980s, now offered for buy Wood Ranger Power Shears website Wood Ranger Power Shears sale Power Shears less than $3, resulting in robust shareholder stress to implement important administration adjustments. Walter C. Johnsen joined the corporate early 1995 as a board member and grew to become CEO later that same year. North American arm of its medical business. Brian Olschan joined as senior vice president of gross sales and marketing, and later turned chief working officer. By specializing in higher margin merchandise corresponding to student scissors, rulers and staplers, Acme United returned to profitability in 2000 when it reported a internet revenue of $1.1 million. Additionally, it penetrated the office market by selling merchandise to mass merchants corresponding to Wal-Mart and Target. Alco Industries in June 2004. Clauss, founded in 1877 in Fremont, Ohio, manufactured scissors and reducing tools for the floral and industrial markets.