Volume 49, Issue 7 - July 2014

CompanyNews

Wood’s Powr-Grip Celebrates Three Generations and 50 Years in Business

In 1964, Howard Wood started Wood’s Powr-Grip in an old general store converted into a machine shop. Half a decade later, his grandchildren are keeping it in the family.

“As a third-generation, family-owned company, it gives us a great sense of pride to be celebrating 50 years in business,” says Bryan Wood, Howard Wood’s grandson and president of the company. “From that humble beginning to our current 55,000 square-foot manufacturing facility, it has indeed been an adventure.”

While the company has seen significant growth over the past five decades, it did not come without obstacles. Wood says the economic downturn a few years ago was the biggest challenge it faced in recent years. The increasing costs of materials, uncertainty in the market and decreasing profits pitted Wood’s with some difficult financial decisions, he says. That’s when the company had to lean on the “do the right thing” mantra Howard Wood instilled in it.

“Layoffs were considered, but we decided that that would not be doing the right thing,” Bryan Wood says of the tough period. “We met with our employees and asked them to accept shorter hours to help prevent the loss of jobs. Salaried employees agreed to take a short-term pay cut.

“Operations were streamlined, procedures simplified, and in a relatively short period of time we were back to normal with a full-time workforce.”

Long-term, Wood says constant and continuous change through laws, regulations, logistics, market pressures and the Internet is an ongoing challenge—one which, now more than ever, requires the company to “pursue markets proactively in order to survive.”

Wood hopes that the company’s efforts to foster relationships with its existing customers and vendors while providing a high-quality product and service will be enough to keep it on track another half-century and beyond.

“Businesses must make a plan and stick to the plan,” Wood says. “It isn’t always realistic, but we’ve worked hard over the past 50 years to lay a solid foundation. We intend to stick to the path and do the right thing, so future generations have the chance to dream and fill those dreams with accomplishments that exceed our expectations.”

Keraglass Industries, Emmegi Group Sign Partnership Agreement
Keraglass Industries reached a technological and financial partnership agreement with the Emmegi Group. According to the announcement, the two will benefit from their glass and aluminum processing synergies.

According to the announcement, Emmegi Group now has a constant presence in about 70 countries, either through direct branches or through authorized distributors. The entry of Keraglass in the Emmegi Group will give a new approach to research and product innovation, providing customers with excellent and extensive service, according to the companies.


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