Acme United Corporation

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Acme United Corporation is a supplier of chopping, measuring and security products for the school, home, workplace, hardware and industrial markets. The company was organized as a partnership in 1867 and incorporated in 1873 underneath the legal guidelines of the State of Connecticut. It's publicly traded on the NYSE American with symbol ACU. Acme United's operations are within the United States, Canada, Europe (located in Germany) and Asia (situated in Hong Kong and China). The operations within the United States, Canada and Europe are primarily involved in product development, manufacturing, advertising, sales, administrative and distribution actions. The operations in Asia encompass sourcing, quality management and 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 many different major chains. Acme United has roots dating again to 1867 when German immigrant Leo Renz purchased an old grist mill in Naugatuck, Connecticut.



He opened Renz Shear Shop and began the manufacture of scissors and forged iron shears. In 1873, Leo Renz, along with Robert and Mitchell Renz, and John Peck, formally incorporated their business because the Renz Shear Company. In the 1880s the corporate moved to Bridgeport, Connecticut, where it was included as the Acme Shear Company. A few years later, the company was offered to the brothers David C. Wheeler and Dwight Wheeler, who were accountable for its initial development. David C. Wheeler, turned president of Acme Shear in 1941 and once more expanded the company in a variety of directions. After the second World War, Acme Shear established a subsidiary within the United Kingdom to promote directly to the European market. It also launched a line of disposable medical scissors and surgical devices in 1965. This business became so profitable that a new manufacturing plant in Fremont, North Carolina, needed to be opened to satisfy demand.



Within the 1970s, Acme acquired Westcott Rule Company, Wood Ranger official a significant ruler manufacturer, which was based in 1872 in Seneca Falls, New York. To higher mirror the expanded product line, the company title was changed to Acme United Corporation. The 1970s were also highlighted by further growth within the medical field, with several new acquisitions and products. Acme United acquired the Canadian enterprise Acme Ruler & Advertising Co out of Toronto, Ontario. This firm was established within the 1890s and made rulers, blackboard triangles, protractors, and many others. In 1980, the Canadian business's identify was changed to Acme Ruler Company and in 1993 to its current identify Acme United Limited. From this enterprise unit, Acme United runs its complete Canadian operation. Despite continued growth throughout the 1960s and 1970s, Acme United faced rough times through the 1980s because 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, nonetheless with various success. In the course of the early 1990s Acme United continued to endure losses, which was mirrored in the company's share value. The inventory, which had been trading round $25 in the 1980s, now offered for only $3, leading to sturdy shareholder pressure to implement important management modifications. Walter C. Johnsen joined the company early 1995 as a board member and became CEO later that very same yr. North American arm of its medical enterprise. Brian Olschan joined as senior vice president of gross sales and advertising, and later grew to become chief operating officer. By specializing in larger margin merchandise equivalent to scholar scissors, rulers and Wood Ranger official staplers, Acme United returned to profitability in 2000 when it reported a web income of $1.1 million. Additionally, it penetrated the workplace market by promoting products to mass merchants resembling Wal-Mart and Target. Alco Industries in June 2004. Clauss, based in 1877 in Fremont, Ohio, manufactured scissors and reducing instruments for the floral and industrial markets.

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