Janesville's SSI set to acquire Hazen
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The SSI Technologies Inc. at 3330 Palmer Dr.. After a business acquisition, the company may be bringing more jobs to Janesville.
JANESVILLE — In what's become an all-too-familiar tale, a company that supplies the auto industry finds itself with too much capacity and too few sales in a market where supply chain competition has driven prices through the floor.
The company puts itself up for sale, another casualty in the economic malaise sweeping the sector.
But this time the troubled company isn't in Janesville, a community that's watched thousands of auto industry jobs disappear in the last year.
Instead, it's a Janesville manufacturer that will benefit.
SSI Technologies plans to acquire an Arkansas company in a deal that could add upwards of $20 million in sales and 40 to 50 employees to the Janesville manufacturer.
Company officials said SSI's acquisition of Hazen Powder Products will solidify the local company's position as the largest domestic supplier of stainless steel, high-temperature automotive and non-automotive parts, a specialized and high value-added segment of the powdered metallurgy market.
SSI will buy all of Hazen's automotive powder metal business, ranging from exhaust system flanges and tone rings for anti-lock braking systems to a variety of transmission components.
SSI also is buying some of Hazen's equipment, including presses, furnaces and lathes that will move to SSI's Sintered Specialties Division on Palmer Drive, which will be expanded by about 6,600 square feet.
Hazen employs about 70 people at what is the largest manufacturer in an Arkansas community of 1,600.
David Baum, SSI's president and chief executive officer, said Hazen has been a formidable competitor for 15 years.
Despite a challenging economy, Baum said he pulled the trigger on the acquisition to spur company growth and eliminate a significant competitive threat.
Bruce Corner, SSI's senior vice president, said some Hazen employees might be offered positions in Janesville.
In total, 40 to 50 employees could be needed to handle the increased production.
SSI now has 270 employees at its facilities on Palmer Drive and West Court Street.
Since October, SSI has laid off about 40 employees because of the downturn in the auto sector, which the sintered specialties division supplies. Corner said some of those employees likely will be called back because of the increase in production.
SSI's Controls Technology Division provides sensors for non-automotive industries. It has remained relatively stable, Corner said.
Baum said he is passionate in his desire to grow both divisions in Janesville.
Jan 12, 2010 at 7:40 p.m.
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im sorry misspelled, dalegribble i meant
Jan 12, 2010 at 7:39 p.m.
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dalegriddle, do you work there? I been there for 18 years and they are the cleanest powder metal factory in the world.yeah its powder, its going to be alittle bit dirty but thats norm.
Jan 12, 2010 at 5:32 p.m.
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yes they did offer them jobs as well, and infact a few are working at SSI now.Not all accepted the offer, thats what I heard
Jan 12, 2010 at 10:09 a.m.
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well you never know about the nut jobs in Janesville, especially the fruits that worked at Generous Motors
Jan 12, 2010 at 9:18 a.m.
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"I think it's pretty obvious Billy was being sarcastic"
I thought so but apparently not. Kind of scary
Jan 12, 2010 at 8:46 a.m.
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they are hiring, but only through manpower.
Jan 12, 2010 at 8:44 a.m.
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you need to apply at manpower, when you get in the door through them, then you can apply for a job that is posted.
Jan 12, 2010 at 8:34 a.m.
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I think it's pretty obvious Billy was being sarcastic. This is good news. That said, I'll believe it when I start seeing job postings. Many of these stories relating to "New" jobs never materialize into actual jobs.
Jan 12, 2010 at 7:49 a.m.
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Billy, they did not owe you nothing, your lucky they hired you.
Jan 12, 2010 at 7:48 a.m.
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i work there and they pay ok, face it Billy your just lazy.
Jan 11, 2010 at 9:35 p.m.
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Yes darnit, new jobs but they don't pay enough. We will sit on our a**es demanding that those of you who do go to work every day continue to provide us with extended unemployment payments before we lower ourselves to going back to work for a wage like that. Besides, most of us have proven time and time again that we are incapable of gaining skills that lead to promotion or merit raises so what chance would we ever have. Its just so unfair that GM didn't understand that they owed us a job for life.
Jan 11, 2010 at 1:28 p.m.
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Yes good news! I believe the starting wage is in the $9.00 an hour range. This should help boost the local economy. May even spark some home buying and new car sales.
Jul 10, 2009 at 11:44 a.m.
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What kind of environmental impact will this business create?
Jul 9, 2009 at 11:28 p.m.
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Glad to hear that SSI is making a positive move. Perhaps they would consider moving back into their old building when Bourns leaves.
Jul 9, 2009 at 9:51 p.m.
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Wow. Maybe the sky isn't falling after all.
Jul 9, 2009 at 8:31 p.m.
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I work at SSI. I just want to say thank you Dave Baum for investing into the future. Thanks to upper management for having the vision & foresight to make this a reality. SSI is a great place to work for, where everyone is treated like family.
Jul 9, 2009 at 6:12 p.m.
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I can imagine the mob scene when they start
taking apps for the 40 or 50.
Jul 9, 2009 at 5:05 p.m.
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Meant to add GOOD NEWS SSI! Any jobs are great jobs!
Jul 9, 2009 at 5:04 p.m.
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Beloit Corporation never defined Beloit. I do not understand why people confuse that. Fairbanks Morse defined Beloit much like GM defined Janesville. Janesville diversified their business better than Beloit. Fairbanks in their day employed roughly 4,000 people very similar to Janesville but with a city half the size. Beloit Corporation always had the distinction of being one of the best paying employers in Rock County just like good old Generous Motors.
Jul 9, 2009 at 4:56 p.m.
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Three cheers for SSI! As others have posted, FINALLY a piece of good news.
Jul 9, 2009 at 4:43 p.m.
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Thank you Dave Baum and SSI Technologies for taking this bold step that will help our community!
Jul 9, 2009 at 4:37 p.m.
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A good reminder that we still have a home-grown automotive supplier. It's great that they're doing well in this recession where all manufacturers have been affected.
Jul 9, 2009 at 4:36 p.m.
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Fianlly, a little good news. Janesville will survive. It will take many smaller businesses growing slowly but we will do it just as Beloit survived the closure of the Corporation a few years back. Let's all be positive and respectful of our community, those who work hard to make it a good place to live and raise families, and each other.
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