Hower Tool sold to Michigan firm
Posted on Tuesday, November 22, 2011
Hower tool is under new ownership.
The business, located at the intersection of Ind. 1 and 700N, has been bought by Haven Manufacturing, of Grand Haven, Mich., a supplier of industrial and medical parts.
Haven Manufacturing Indiana Inc. plans to retain the current Hower Tool workforce and pursue sustainable growth that meets the needs of its customers. A request has already been presented to the Wells County Council requesting that the properties accommodating the business be reclassified
as an Economic Revitalization Area to facilitate this planned growth.
Council will meet to further discuss the proposal on Tuesday, Nov. 29.
“The Wells County business community is very excited at the news of this acquisition and our organization stands ready to work towards the future success of Haven Manufacturing
Indiana Inc.,” said Paul Grandlienard, president of the Wells County Chamber of Commerce and Economic Development.
HMI is equally enthusiastic about the purchase and expects to double the size of the business in the next five years by increasing sales in the orthopedics industry and expanding within the industrial products area.
“It is the intent of the Haven Manufacturing team to orchestrate a transparent and seamless transition of ownership and continue to provide the same high quality products and service that the Hower team has built their reputation on,” said Haven Manufacturing General Manager Tom
Gregory.
Article by Frank Shanly, courtesy of the News-Banner
Posted in Business News
