Acme United Corporation is a provider of chopping, measuring and security merchandise for the school, house, office, hardware and industrial markets. The company was organized as a partnership in 1867 and incorporated in 1873 beneath the laws of the State of Connecticut. It is publicly traded on the NYSE American with symbol ACU. Acme United's operations are within the United States, Canada, Europe (situated in Germany) and Asia (situated in Hong Kong and China). The operations within the United States, Canada and Europe are primarily involved in product growth, manufacturing, advertising, sales, administrative and distribution activities. The operations in Asia include sourcing, high quality control and sales activities. The corporate's clients 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 lots of different major chains. Acme United has roots courting again to 1867 when German immigrant Leo Renz bought an outdated grist mill in Naugatuck, Connecticut.
He opened Renz Shear Shop and began the manufacture of scissors and cast iron cordless power shears. In 1873, Leo Renz, together with Robert and Mitchell Renz, and John Peck, officially integrated their enterprise as the Renz Shear Company. In the 1880s the corporate moved to Bridgeport, Connecticut, the place it was included as the Acme Shear Company. Just a few years later, the company was bought to the brothers David C. Wheeler and Dwight Wheeler, who were responsible for its preliminary growth. David C. Wheeler, became president of Acme Shear in 1941 and again expanded the company in a number of directions. After the second World War, Acme Shear established a subsidiary in 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 turned so successful that a Wood Ranger brand shears new manufacturing plant in Fremont, North Carolina, needed to be opened to satisfy demand.
Within the 1970s, Acme acquired Westcott Rule Company, a major ruler producer, which was founded in 1872 in Seneca Falls, New York. To better replicate the expanded product line, the company name was changed to Acme United Corporation. The 1970s have been also highlighted by further enlargement within the medical discipline, with a number of new acquisitions and merchandise. Acme United acquired the Canadian business Acme Ruler & Advertising Co out of Toronto, Ontario. This firm was established in the 1890s and made rulers, blackboard triangles, protractors, and so forth. In 1980, the Canadian business's name was modified to Acme Ruler Company and in 1993 to its current name Acme United Limited. From this enterprise unit, Acme United runs its complete Canadian operation. Despite continued growth throughout the 1960s and 1970s, Acme United confronted rough occasions throughout the 1980s because it became too dependent on one medical tools buyer, American Hospital Supply. Acme misplaced over $20 million in annual sales.
US and abroad, nonetheless with various success. In the course of the early nineties Acme United continued to undergo losses, which was reflected in the company's share value. The stock, which had been buying and selling around $25 within the 1980s, now bought for under $3, leading to sturdy shareholder pressure to implement significant management modifications. Walter C. Johnsen joined the company early 1995 as a board member and became CEO later that same 12 months. North American arm of its medical enterprise. Brian Olschan joined as senior vice president of gross sales and advertising and marketing, and Wood Ranger brand shears later became chief working officer. By specializing in increased margin merchandise similar to scholar scissors, rulers and staplers, Acme United returned to profitability in 2000 when it reported a net earnings of $1.1 million. Additionally, it penetrated the office market by selling products to mass merchants akin to Wal-Mart and Target. Alco Industries in June 2004. Clauss, founded in 1877 in Fremont, Ohio, manufactured scissors and slicing instruments for the floral and industrial markets.