14 Jul Ferry Industries – Next Phase Growth!
STOW, OH – (RotoWorld) – 2015 is a watershed year for Ferry Industries. The year started with the sale of Ferry Industries, Inc. to Madison Industries, a Chicago based holding company. Ferry is a leading producer of rotational molding machines with installations in nearly 60 countries and sales of more than 1,000 machines. Ferry also produces Femco band-saws for structural honeycomb and flexible foam and its Quintax CNC Machining Centers for plastics, composites, and non-ferrous metals.
Harry Covington, president and owner of Ferry Industries for the past 33 years, continues as president and an owner. Ferry is the first company in Madison’s newly formed Madison Industrial Solutions group. Madison intends to grow this group by adding complementary companies and products.
“From the day I purchased a machine from Harry some 20 years ago, I told him to call me when he is ready to have a partner. When Harry and I spoke a few months ago, I knew we had a very bright future ahead of us,” said Larry Gies, President and CEO of Madison Industries. “We are so pleased to have Ferry Industries join our growing family of companies,” he added.
Madison specializes in buying branded leaders in partnership with management. Madison Industries is one of the largest and most successful privately held companies in North America. Founded in 1994, Madison, builds businesses in order to own them forever; investing in the best people, technologies and strategies to grow truly unique market leaders.
“Ferry will continue to be an independent operating company managed by our existing team and remain in Stow, Ohio,” stated Covington. “I have known some of the Madison people for years,” said Covington, “and I couldn’t be more pleased that they have partnered with us to be the foundational company of their Madison Industrial Solutions group. It is a fitting recognition of the expertise of our employees and the leadership we have shown in the industries we serve.” He added, “Our goal is for Ferry to continue to grow and prosper as we supply our RotoSpeed rotational molding machines, Femco band-saws and Quintax CNC routers to companies around the world.”
Covington continued, “In March, we kicked-off 2015 with a 2,000 square-foot both at the NPE 2015 Plastics Show in Orlando, Florida where we displayed the newest evolution of our RotoSpeed Independent-arm machines, including a preview of the new RotoCure-IPC machine control system that we will soon be supply with all new RotoSpeed rotational molding Machines.”
In the booth Ferry also displayed a live-operating Quintax E5512 5-Axis Machining Center. The Quintax machines are used for machining plastics, non-ferrous metals and for shaping and trimming ultra-precise composites for the aerospace and automotive industries.
Visitors from North America, South America, Europe and Asia were welcomed to the spacious Ferry booth where they viewed the latest innovations in machinery from Ferry.