Wooster is Optimistic About the Akron Brass Sale
Another of those special companies in northeast Ohio that has long been a world leader in making an important precision product has been sold. But WKSU’s Tim Rudell reports that may not be a bad thing.
Akron Brass began in 1918 in Akron, later moving to Wooster. Its precision fittings for everything from fire hoses to marine equipment are considered top of the line.
Since the 1990s it has been owned by a British company, though it remained in Wooster.
This week, Forest Park Ill.-based IDEX, a big player in another part of the fire and rescue business, agreed to pay a quarter of a billion dollars for it.
Rod Crider of the Wayne County Economic Development Council says that’s a good sign.
“From what we can see this is really a great fit for IDEX. And, obviously they must have known a lot about Akron Brass and their strength as a company. Maybe I shouldn’t use a pun, but it wasn’t a fire-sale price. From what we read it was quoted as a decent price by analysts.
Akron Brass has about 250 workers in Wooster.