Profile: Eastern Co (EML.OQ)
2 Dec 2016
The Eastern Company, incorporated on October 14, 1912, is engaged in the manufacture and sale of industrial hardware, security products and metal products from over six United States operations and seven foreign subsidiaries. The Company maintains over 13 physical locations. The Company operates through three segments: Industrial Hardware, Security Products and Metal Products.
The Industrial Hardware segment consists of Eberhard Manufacturing, Eberhard Hardware Manufacturing Ltd., Canadian Commercial Vehicles Corporation, Composite Panel Technologies, Eastern Industrial Ltd. and Sesamee Mexicana, S.A. de C.V. The units design, manufacture and market a product line of industrial and vehicular hardware throughout North America. The Industrial Hardware segment offers locks, latches, hinges, handles, lightweight honeycomb composite structures and related hardware for tractor-trailer trucks, moving vans, off-road construction and farming equipment, school buses, military vehicles and recreational boats. It also offers products for pickup trucks, sport utility vehicles, and fire and rescue vehicles. In addition, the segment manufactures a range of fasteners and other closure devices used to secure access doors on various types of industrial equipment, such as metal cabinets, machinery housings and electronic instruments.
The segment produces latching devices for use on industrial equipment and instrumentation, composite panels used primarily in the transportation and electronic white board industries, as well as a line of its hardware. The Industrial Hardware segment's products include passenger restraint locks, slam and draw latches, dead bolt latches, compression latches, cam-type vehicular locks, hinges, tool box locks, light-weight sleeper boxes and vents for Class 8 trucks and school bus door closure hardware. The products are sold directly to original equipment manufacturers (OEMs) and to distributors through a distribution channel consisting of in-house salesmen and outside sales representatives. The Industrial Hardware segment sells its products to an array of markets, such as the truck, bus and automotive industries, as well as to the industrial equipment, military and marine sectors.
The Security Products segment, made up of Greenwald Industries, Argo Transdata, Illinois Lock Company/CCL Security Products, World Lock Company Ltd., Dongguan Reeworld Security Products Ltd. and World Security Industries Ltd., is a manufacturer of security products. This segment manufactures electronic and mechanical locking devices, both keyed and keyless, for the computer, electronics, vending and gaming industries. The segment also supplies its products to the luggage, furniture, laboratory equipment and commercial laundry industries. Greenwald manufactures and markets coin acceptors and other coin security products used primarily in the commercial laundry markets, as well as hardware and accessories for the appliance industry. In addition, the segment provides a level of security for the access control, municipal parking and vending markets through the use of smart card technology. Argo Transdata Corporation (Argo) supplies printed circuit board assemblies to OEMs in industries, such as measurement systems, industrial controls, medical and military markets.
Greenwald's products include timers, drop meters, coin chutes, money boxes, meter cases, smart cards, value transfer stations, smart card readers, card management software, access control units, oven door latches, oven door switches and smoke eliminators. Illinois Lock Company/CCL Security Products sales include cabinet locks, cam locks, electric switch locks, tubular key locks and combination padlocks. The Company's products are primarily sold under the names, SESAMEE, PRESTOLOCK and SEARCHALERT. These products are sold to OEMs, distributors, route operators, and locksmiths through in-house salesmen and outside sales representatives.
The Metal Products segment, based at the Company's Frazer & Jones facility, is a producer of expansion shells for use in supporting the roofs of underground mines. This segment also manufactures specialty malleable and ductile iron castings. The Metal Products segment's products include mine roof support anchors, couplers for railroad braking systems, support anchoring for construction and couplers/fittings for utility (oil, water and gas) industries. Mine roof support anchors are sold to bolt manufacturers, while specialty castings are sold to OEMs or machine houses.
112 Bridge Street
NAUGATUCK CT 06770
Company Web Links
- BRIEF-Eastern Co Q3 earnings per share $0.38
- BRIEF-Eastern Q3 earnings per share $0.38
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