9/11/2012 12:26:00 AM
NEWS BRIEFS
Rockford Marking 150th Anniversary of a Textron Company
The Illinois city of Rockford is celebrating the 150th anniversary of a Textron division that still manufactures domestically.
Greenlee Textron Inc. started as Greenlee Brothers Inc. in Chicago in 1862 producing drills for the furniture industry, according to rrstar.com. The company relocated from Chicago to Rockford after a 1912 fire plus another fire during rebuilding. Greenlee was acquired by Textron Inc. in 1986.
The rrstar.com noted, “Textron Inc. itself doesn’t have the most favorable local reputation. Textron bought two of Rockford’s famed screw makers, Camcar in 1955 and Elco in 1995, to create Textron Fastening Systems. That division employed 3,300 people in Rockford in 1997.”
But the rrstar.com noted the “recession of 2001 hit the area’s fastening industry hard. Looking to save on costs, Textron began moving its operations to lower-cost countries. Today, China is the largest producer of fasteners. In 2007, the Rhode Island conglomerate sold off its fastening interests entirely.”
For most of its history, Greenlee manufactured woodworking tools. Its products today include hand and power tools. Greenlee also offers cable pullers, benders, crimpers and other tools used in wire and cable installation.
This year’s celebration highlights the fact that Greenlee stayed in Rockford. Greenlee employs about 300 in Rockford and another 150 in Genoa. Most of Greenlee’s competitors manufacture their products outside of the U.S. ©2012 GlobalFastenerNews.com
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