Eklind Is Closing Its IL Plant

[Ultradog MN]

Eklind filed a WARN to close its HQ production facility in Franklin Park which is just outside of Chicago. As an Illinois resident and a dude in manufacturing I can say this *****. I know Eklind wasn’t the best but they were still decent hex keys at a really good price. It’s just Bondhus now for US-made hex keys as far as I know. It’s going to be interesting to see who sources from who once Eklind is gone. I like Bondhus but their QC has kinda sucked since Covid.

It's official I guess - not that it wasn't before. I get notices from Bidspotter when items I want come up for auction. This morning it is for some Lista tool cabinets.

Lista Auctions Online | Bidspotter.com

Bid online on 9 Lista auction lots for sale at Bidspotter.com

www.bidspotter.com

 

[CHI_Tool&Die]

It's official I guess - not that it wasn't before. I get notices from Bidspotter when items I want come up for auction. This morning it is for some Lista tool cabinets.

Lista Auctions Online | Bidspotter.com

Bid online on 9 Lista auction lots for sale at Bidspotter.com

www.bidspotter.com

Yeah it still stings. Even my Snap-on guy was scratching his head on this situation. None of us could believe that a company that was half of the US-made hex keys market could be run so poorly that they would fold after a hundred years of running.

 

[RoninB4]

None of us could believe that a company that was half of the US-made hex keys market could be run so poorly that they would fold after a hundred years of running.

-The current president of Eklind (Earl) was brought in while I was there so Howard Eklind could step down. Sometime after I left he brought in his brother (Doug) as comptroller. Together the Dynamic Duo managed to auger the company in. The full story would only be known by those two. Congratulations boys, mission accomplished.

 

[1982fxr]

Wonder how much they'll get for the name?

 

[RoninB4]

Wonder how much they'll get for the name?

-Both of them hold degrees in finance and are heading into retirement, I suspect they'll get every cent they can.

 

[Nobody-named-Olli]

Could faltering demand for “classic” L-shaped hex keys have played a role as well? And might this spread to other categories/ sorts of tools as well?

Personally, I think it is only the beginning.

Kind regards,
Olli

 

[zendriver]

Could faltering demand for “classic” L-shaped hex keys have played a role as well? And might this spread to other categories/ sorts of tools as well?

Personally, I think it is only the beginning.

Kind regards,
Olli

There’s a lot of denial going on here too IMO

I think we can all agree that the hex wrench could possibly be one of the easiest and cheapest to manufacturer in the history of tools.

That said, so what are the chances that lower cost domestic and foreign manufacturing could get the best of that market away from this company?

Interesting to look at that. It was some kind of anomaly as a failed American tool company and of course “blaming management” which could to be fair might not be entirely off base. Legacy American manufacturers are struggling in all different suckers.

“ the kids” usually being already well off don’t always share the same interest as dad did,in running a multigenerational business, especially in a much tougher business climate than before

Sounds like they might’ve been sick of the whole thing. Not sure how I would feel about it if I was in their position.

 

[YesIHaveAHammer]

Wonder how much they'll get for the name?

I hear the going rate is 30 pieces of silver. Could just let these old names rest.

 

[Hohn]

Eklind filed a WARN to close its HQ production facility in Franklin Park which is just outside of Chicago. As an Illinois resident and a dude in manufacturing I can say this *****. I know Eklind wasn’t the best but they were still decent hex keys at a really good price. It’s just Bondhus now for US-made hex keys as far as I know. It’s going to be interesting to see who sources from who once Eklind is gone. I like Bondhus but their QC has kinda sucked since Covid.

It *****, but let's be honest here-- the IL political class has had a war on manufacturing in the state for ages. Everyone outside Chicago proper has felt that pain.

It won't be much longer until Estwing is gone too. And who knows where it stops.

Several of my favorite brands are IL-made products. In addition to estwing, my favorite reloading dies (Forster) and engine oil (HPL) are made in IL as well by small, family-owned businesses.

But of course, they don't grease the corrupt wheels of Chicago politics, so they are not long for this world.

 

[RoninB4]

It *****, but let's be honest here-- the IL political class has had a war on manufacturing in the state for ages.

-Richard M. Daly (son of Richard J.) drove quite a few manufacturers out of the city (Chicago) limits during his tenure. Printers Row, the Armitage Corridor, a number of places off the Ravenswood line, and several others immediately come to mind. Eklind Tool was (purportedly) badgered out of the Chicago location due to excessive taxation according to Howard Eklind. There was a lot of prime real estate that changed hands....and usually did as the real estate revolving door cycle that was/is part of the fabric of Chicago. Howard had even paid off the territorial franchise (gang) in the area (protection money) that enforced cleanup when the small time gang bangers put their marks on the building. I watched one cleanup under the tense supervision of those we paid off. The summer after this event we were informed of the projected move schedule and why. The most recent property tax hikes (and why) are an example of what happens to a captive audience in Chicago.

Everyone outside Chicago proper has felt that pain.

-Outside was the natural extension of gouging those that had to remain in proximity to the city. The suburbs wanted a share of the proceeds too. Anyone recall what went on during the Rosemont Horizon construction era? How about Cicero?

But of course, they don't grease the corrupt wheels of Chicago politics, so they are not long for this world.

-Without getting political it's always been referred to as "The Machine" for a long time. What used to be a city operation has expanded to being statewide. Join the club or get out. JMO/JME

 

[Hohn]

-Richard M. Daly (son of Richard J.) drove quite a few manufacturers out of the city (Chicago) limits during his tenure. Printers Row, the Armitage Corridor, a number of places off the Ravenswood line, and several others immediately come to mind. Eklind Tool was (purportedly) badgered out of the Chicago location due to excessive taxation according to Howard Eklind. There was a lot of prime real estate that changed hands....and usually did as the real estate revolving door cycle that was/is part of the fabric of Chicago. Howard had even paid off the territorial franchise (gang) in the area (protection money) that enforced cleanup when the small time gang bangers put their marks on the building. I watched one cleanup under the tense supervision of those we paid off. The summer after this event we were informed of the projected move schedule and why. The most recent property tax hikes (and why) are an example of what happens to a captive audience in Chicago.

-Outside was the natural extension of gouging those that had to remain in proximity to the city. The suburbs wanted a share of the proceeds too. Anyone recall what went on during the Rosemont Horizon construction era? How about Cicero?

-Without getting political it's always been referred to as "The Machine" for a long time. What used to be a city operation has expanded to being statewide. Join the club or get out. JMO/JME

One fascinating holdout is the Horween leather company. Used to be a huge tannery area of Chicago obviously as an outcrop of the meat packing industry.
They're pretty much all gone now, but Horween persists. I believe they are the sole producer of Shell Cordovan in all the USA North America.

 

[RoninB4]

One fascinating holdout is the Horween leather company. Used to be a huge tannery area of Chicago obviously as an outcrop of the meat packing industry.
They're pretty much all gone now, but Horween persists. I believe they are the sole producer of Shell Cordovan in all the USA North America.

-Fairly familiar with that area, used to drive/ride by there but never noticed the business. Was probably keeping an eye on the locals at the time. The Feb. 14 1978 incident was an interesting footnote to Valentine's Day history in Chicago.

 

[Hakeem]

It *****, but let's be honest here-- the IL political class has had a war on manufacturing in the state for ages. Everyone outside Chicago proper has felt that pain.

It won't be much longer until Estwing is gone too. And who knows where it stops.

Several of my favorite brands are IL-made products. In addition to estwing, my favorite reloading dies (Forster) and engine oil (HPL) are made in IL as well by small, family-owned businesses.

But of course, they don't grease the corrupt wheels of Chicago politics, so they are not long for this world.

Illinois has over 13,000 manufacturing companies employing over 700,000 people. That’s the fourth highest number in the country. Sounds like they’re doing pretty good, especially for a state with a “war on manufacturing”.

 

[Hohn]

Illinois has over 13,000 manufacturing companies employing over 700,000 people. That’s the fourth highest number in the country. Sounds like they’re doing pretty good, especially for a state with a “war on manufacturing”.

 

[JMP]

It *****, but let's be honest here-- the IL political class has had a war on manufacturing in the state for ages. Everyone outside Chicago proper has felt that pain.

It won't be much longer until Estwing is gone too. And who knows where it stops.

Several of my favorite brands are IL-made products. In addition to estwing, my favorite reloading dies (Forster) and engine oil (HPL) are made in IL as well by small, family-owned businesses.

But of course, they don't grease the corrupt wheels of Chicago politics, so they are not long for this world.

Texas will gladly welcome them.

 

[zendriver]

It *****, but let's be honest here-- the IL political class has had a war on manufacturing in the state for ages. Everyone outside Chicago proper has felt that pain.

It won't be much longer until Estwing is gone too. And who knows where it stops.

Several of my favorite brands are IL-made products. In addition to estwing, my favorite reloading dies (Forster) and engine oil (HPL) are made in IL as well by small, family-owned businesses.

But of course, they don't grease the corrupt wheels of Chicago politics, so they are not long for this world.

If the product was that good and the business that lucrative, they could have just pulled up stakes and moved elsewhere.

That's what everybody else does.