Werner Co.
| File:Werner Company.jpg | |
| Company type | Private |
|---|---|
| Industry | Manufacturing |
| Headquarters | , |
| Divisions | Werner, Green Bull, Keller, KNAACK, WEATHER GUARD |
| Website | Corporate Site |
Werner Co. is a world leader in the manufacturing and distribution of aluminum and fiberglass ladders. The company also supplies other climbing equipment, access products, and fall protection equipment. A privately owned company, Werner Co. Corporate Headquarters is at 93 Werner Road, Greenville, PA 16125-9499
History
Werner Co. was founded in 1922 by Richard D. Werner as "R. D. Werner Co., Inc.," a small business, selling materials for floors, carpets, and walls. The company quickly began to specialize in metal moldings, including a patented brand of metal kitchen trim called ChromtrimTM. 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 the various types of aluminum ladders for which it is best known. Werner began production of fiberglass ladders in 1963 and in 1981 developed the Glas*Mark® process to personalize fiberglass ladder rails with embedded customer graphics. In 1997, the company restructured, and sold a majority holding to the international investment group Investcorp S.A..
In December 2005, the Extruded Products Division (formerly WXP, Inc.) was sold to HIG Capital.[1] 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.[2] 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. On June 8, 2007, a new company was formed by the major creditors to purchase substantially all the assets of the old company.
Werner Co. operates as an international subsidiary of New Werner Holding Co., Inc. with manufacturing, warehousing, sales, and distribution facilities in the United States, Mexico, Canada, China, the United Kingdom and Australia.[3][4][5][6]
References
- ^ "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.
- ^ "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.