Werner Co.
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| Company type | Private |
|---|---|
| Industry | Manufacturing |
| Headquarters | , |
| Divisions | Werner, ABRU, Bailey, Better Built, BoSS, centaure, duarib, Haemmerlin, Green Bull, Keller, KNAACK, WEATHER GUARD, Youngman, ZARGES |
| Website | Corporate Site |
Werner Co. is a privately owned company involved with the manufacturing and distribution of aluminum and fiberglass ladders, light duty construction equipment, fall protection equipment, and similar products. Werner Co. is headquartered in Itasca, Illinois. Werner's customer care division is located in Greenville, Pennsylvania.[1]
History
[edit]Werner Co. was founded in 1922 by Richard D. Werner as "R. D. Werner Co., Inc.," which specialized in metal moldings. R. D. Werner Co., Inc. became a leader in plastics extrusion during the World War II restrictions on civilian metal usage. After the war, Werner started working with aluminum and developed an emphasis on producing aluminum ladders. Werner began production of fiberglass ladders in 1963. In 1997, the company restructured, and sold a majority holding to the international investment group Investcorp S.A.[citation needed]
In December 2005, the Extruded Products Division (formerly WXP, Inc.) was sold to HIG Capital.[2] Werner reported audited net sales of $472.3 million for the year ending Dec. 31, 2005. As of March 31, 2006, Werner reported assets of $201 million and liabilities of $473.4 million.[3] Werner Co. filed for Chapter 11 protection under the bankruptcy code in Delaware on June 12, 2006, primarily due to excessive leverage, significant increases in raw material costs, and the loss of one of its largest customers.[citation needed] On June 8, 2007, a new company was formed by the major creditors to purchase substantially all the assets of the old company.[citation needed]
Werner Co. operates as an international subsidiary of New Werner Holding Co., Inc. with manufacturing, warehousing, sales, and distribution facilities in the United States, Australia, Canada, China, Mexico, Vietnam and the United Kingdom.[4][5][6][7][8]
References
[edit]- ^ "Locations".
- ^ "Werner Co. seeks Chapter 11 protection". The Herald, Sharon PA.
- ^ "Werner Co. Files for Ch. 11 Bankruptcy Protection". Modern Distribution Management.
- ^ "Company Overview of Werner Co". BusinessWeek. Archived from the original on April 7, 2013.
- ^ "Werner Ladder Buys Green Bull". Modern Distribution Management.
- ^ "Emerson sells Knaack to Werner for $115 million". St Louis Business Journal.
- ^ "Werner Access Products UK Holdings, Ltd. Completes Acquisition of Youngman Group Ltd". FinanzNachrichten.de.
- ^ "DUO Industries S.A.S. announces the sale". PR Newswire.
External links
[edit]- Manufacturing companies based in Pennsylvania
- American companies established in 1922
- Privately held companies based in Pennsylvania
- Manufacturing companies established in 1922
- 1922 establishments in Pennsylvania
- American companies established in 2007
- Manufacturing companies established in 2007
- 2007 establishments in Pennsylvania
- Companies that filed for Chapter 11 bankruptcy in 2006
- Tool manufacturing companies of the United States