11/5/2010 1:10:00 PM
NEWS BRIEFS
Field Fastener Expanding As Derrys Celebrate 20 Years
Field Fastener Supply Co. plans to double its facility space in Machesney Park, IL, in the face of rising sales, WREX 13 News reports.
“We’re working right now with the Village of Machesney Park to put an addition on to more than double the facility because things are continuing to be really good, business is strong,” vice president Jim Derry told 13 News.
The expansion comes as the Derry family celebrate 20 years of ownership at Field Fastener.
Bill and Jerry Derry purchased the company in 1990, when it had a dozen employees and roughly $1 million in revenue. Two decades later Field Fastener employs a workforce of 53 and generates about $25 million in annual sales.
About six years ago 80% of Field Fastener’s business was within 200 miles of its suburban Rockford, IL, headquarters. Today Field has satellite facilities in five states and supplies fasteners internationally after an Illinois customer asked for its VMI service to a plant in Malaysia.
The Derry family is reportedly celebrating its anniversary by taking all employees to Las Vegas.
Jim Derry is president of the National Fastener Distributors Association and Bill Derry was the 1997-98 NFDA president.
Founded in 1976, Field Fastener is a global supplier of fasteners, “C” commodities, inventory management services and technical support. ©2010 GlobalFastenerNews.com
Editor’s Note: For more history of Rockford and Field Fastener, click on Fastener History and scroll down to:1988 & 2008 FIN: Rockford’s Role in the Fastener Industry
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