Akron Rebar Company, Under New Ownership, Announces a Plan for Significant Growth and Unveils Cutting-Edge Technology New to the United States
AKRON, Ohio, May 1, 2019 /PRNewswire/ -- Founded in 1968, Akron Rebar Company announced today that, under new ownership by the Humphrey family of Akron, Ohio, the company has made a multi-million-dollar investment in cutting-edge equipment to increase its capacity and speed, while positioning the organization for strong, long-term growth.
The fuel for its growth includes technology from MEP, an Italian-based manufacturer known for its efficient and innovative manufacturing solutions. Now, Akron Rebar Company will have two complete and fully-automated cut-and-bend stations for processing stock rebar.
In fact, one of the machines delivers custom, multi-radius bending—making it the first of its kind in the United States.
"These fully-automated systems offer such dramatic flexibility that we can literally offer an infinite number of bend options. The investment significantly increases our capacity, efficiency and service, while maintaining our competitive pricing, positioning us for tremendous growth," explains President and CEO Michael B. Humphrey II.
Prior to purchasing Akron Rebar Company, Michael B. Humphrey II served as Executive Vice President of Operations at Republic Steel. His experience spans advisory, operations risk, finance, security, procurement, logistics, sales planning, and operations management. Prior to Republic Steel, his work centered on finance and operations risk at top companies such as The Goodyear Tire & Rubber Company and KPMG, LLP.
Co-owner Michael Humphrey Sr., CFO and General Counsel, is an attorney, an accountant and the founder and managing partner at Sentinel Intelligence Group LLC. In November of 2017, he retired from KPMG as a Managing Director, after more than 10 years. He was a leader within KPMG's forensic financial services practice and has over 30 years of experience in management advisory services.
"We are all-in when it comes to investing in Akron Rebar Company and its people to provide unmatched customer service in our industry," the new CEO says. "Our goal is to grow and innovate while simultaneously honoring our history. We're a 40-year-old company, but we are just getting started."
For more information, please visit AkronRebar.com.
Press Contact: Jack W. Widmer, Director of Outside Sales, Marketing
330-416-2357
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Michael B. Humphrey II and Michael Humphrey Sr. of the Akron Rebar Company
SOURCE Akron Rebar Company
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