A February purchase has brought a new name and new possibilities for a Springfield company.
Reyco Industries, of Springfield and Mt. Vernon, was purchased in February by Tuthill Corporation of Hinsdale, Ill. Reyco has more than a century of history in the Springfield area and also has a manufacturing plant in Grimsby, Ontario.
Bob Davis, who was president of Reyco, is now in charge of manufacturing for all Tuthill Transport Technologies operations, the new entity formed after another purchase by Tuthill.
Tuthill acquired Fluidrive Inc. of Brookston, Ind., in December 1998. Tim Gilbert, who was formerly vice president of sales for Reyco Industries, is now director of trailer suspensions for Tuthill.
"We were both roughly $50 million companies. As a $100 million company, it gives us a critical mass that allows certain things," said Wayne Powell, director of marketing and field sales. Powell said such things as equipment purchases that might not otherwise have been possible are now options.
In addition, Powell said products offered by the former Fluidrive give the larger Reyco sales force new products to sell and new customers to call on.
Reyco was owned since 1992 by Dines Industrial Group prior to the sale.
Tuthill Corporation also owns MD Pneumatics and MD Precision Products in Springfield.
The Springfield company's history traces back to 1889, when United Iron Works began business here.
Through various entities, the company in different incarnations has been an iron foundry for Frisco Railroad, an ice-machine maker and a brake drum manufacturer.
Powell said while the Tuthill's ownership is seen with favor, previous owner Dines Industrial Group's purchase of Reyco came at a critical time.
"If it hadn't been for Dines, Reyco might not have been around," he said.
The company now manufactures suspensions for over-the-road trucks, trailers, motor homes, ambulances and fire trucks.
The local manufacturer of heavy-duty suspensions employs between 150 and 200 at its two southwest Missouri locations.
Tonya Ulmer, advertising and public relations specialist, said the number of employees is expected to increase in the wake of the acquisition.
In Springfield, the company is at 2715 N. Airport Commerce.
The purchase price was not disclosed.
Tuthill Corporation now has 20 manufacturing facilities and more than 3,000 employees. Powell said he expects Tuthill to hold and develop its acquisitions, noting the company has never subsequently sold a company it acquired.
"It's a growth opportunity for individuals and for the company as a whole," Powell said.
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