Spindle manufacturers merge

Spindle manufacturers merge

Index for December '02—November '03

Setco, North America's largest independent manufacturer and rebuilder of spindles and slides, has acquired Pope Corp., Havermill, Mass., which manufactures precision spindles and operates several U.S service centers. Included in the acquisition is the former Spindle Machine & Service Co. (SMSI). Both were acquired from Barden/FAG, Danbury, Conn.

Setco's offerings now include the Pope product line, spindle design, engineering, and rebuild services. Engineering and new-product manufacturing will be incorporated at Setco's Cincinnati headquarters.

Setco Sales Co.
Cincinnati
setcousa.com


U.S. CUTTING TOOL INSTITUTE BILLINGS INDEX

Index for December '02—November '03

December $113,137,752 101.7% June $123,443,633 113.6%
January $133,883,278 120.6% July $111,215,159 102.1%
February $125,288,689 112.9% August $116,382,313 106.8%
March $134,260,197 122.1% September $125,456,973 115.4%
April $123,526,680 112.9% October $132,331,224 121.3%
May $119,703,248 110.0% November $116,384,449 107.1%

In-house tool inventory

LMT- Fette offers an inventory-reduction system to select customers. The optional program features an in-house inventory of most-frequently ordered tooling at no additional cost. The Tool Bank is inventoried and replenished monthly, maintaining a two-month, onhand supply. Customers can avoid shipping costs and downtime related to last-minute tool replacement. Also, to avoid costs associated with unused inventory, customers are billed monthly only for open purchases.

LMT-Fette
Cleveland
lmtfette.com


Drill company and parent appoint execs

Alan Godfrey is the new president of Precision Twist Drill Co. During 30 years with Sandvik Coromant USA, he served in various sales and marketing positions including, most recently, vice president sales. Godfrey's predecessor — Tony Elfström — joins Sandvik Tooling Production NAFTA as vice president, BusinessSynergies.

Recently, the supply and manufacturing activities of Precision Twist Drill became part of Sandvik Tooling Production NAFTA. The company's Crystal Lake facility continues as prime supplier of Precision Twist Drill's brands.

Precision Twist Drill Co.
Crystal Lake, Ill.
precisiontwistdrill.com

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