Hufcor

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Author Message ken hercenberg Senior Member Username: khercenberg Post Number: 1470 Registered: 12-2006 Posted on Wednesday, June 08, 2022 - 10:57 am:    Just heard that Hufcor is history. As many of you know, the family who owned Hufcor was bought out a few years back by a holding company that sent production to Mexico; then the wheels fell off. They just laid off another 80 people and are down to 11 people in their US operations. Now they’re having trouble getting the finished orders that are stuck at the border. John Bunzick Senior Member Username: bunzick Post Number: 1876 Registered: 03-2002 Posted on Wednesday, June 08, 2022 - 03:05 pm:    The Guardian explains a bit about this: https://www.theguardian.com/us-news/2021/jul/18/hufcor-factory-janesivlle-wisconsin-opengate-capital In the article, the private equity firm OpenGate reportedly makes their money through layoffs and lack of investment. Another tactic that private equity firms use - though I can't say that OpenGate did this at Hufcor - is to buy a firm with massive amounts of debt that is put on the books of the firm itself. This generates a bunch of cash that usually goes to the private equity partners in the form of fees and other transfers. Generally the targeted firms have trouble paying the carrying costs of such debt. Meanwhile the private equity partners have extracted as much cash as they can before a firm fails. This happens over and over again throughout the US. David G. Axt, CCS, CSI ,SCIP Senior Member Username: david_axt Post Number: 1929 Registered: 03-2002 Posted on Thursday, June 09, 2022 - 02:07 pm:    "Greed is good!" - Gordon Gekko https://frontpagelive.com/2021/09/02/opengate-hufcor-unemployment-wsl/ The article above was sent to me from a 26 year local Hufco distributor. David G. Axt, CCS, CSI, SCIP Specifications Consultant Axt Consulting LLC Loretta Sheridan Senior Member Username: leshrdn Post Number: 35 Registered: 11-2021 Posted on Thursday, June 09, 2022 - 02:18 pm:    I don't see the "Stop Wall Street Looting Act" passing since most of Washington is enthralled to the various raiders. If it does pass, it will probably be so watered down as to be meaningless. Kirk Wayne Mackey Junior Member Username: kwmackey Post Number: 2 Registered: 12-2021 Posted on Monday, June 13, 2022 - 03:27 pm:    My local long time distributor of Hufcor in OKC market had a number of issues with them after the buyout, dropped Hufcor, and became the local distributor for ModernFold. I ended up checking a 2nd set of shop drawings to enable the switchover. Kirk W. Mackey David G. Axt, CCS, CSI ,SCIP Senior Member Username: david_axt Post Number: 1930 Registered: 03-2002 Posted on Tuesday, June 14, 2022 - 09:47 am:    My local distributor also had problems with quality issues with Hufcor after the buyout and has switched over to Modernfold. David G. Axt, CCS, CSI, SCIP Specifications Consultant Axt Consulting LLC Robin E. Snyder Senior Member Username: robin Post Number: 836 Registered: 08-2004 Posted on Monday, October 31, 2022 - 12:35 pm:    Modernco is sending out statements that they "acquired" Hufcor. Anyone know if this is valid or did they simply buy some of Hufcor's assets at a fire sale? ken hercenberg Senior Member Username: khercenberg Post Number: 1611 Registered: 12-2006 Posted on Tuesday, February 13, 2024 - 10:18 am:    Just got word that Kwik-Wall has licensed Hufcor 600 and now offers it. See their website - https://kwik-wall.com/operable-walls-lp_hufcor-600/