RAMCO Specialties, Inc. - Creating an Intelligent Community
A few years ago, the City of Hudson and RAMCO Specialities, Inc. worked together to find a solution where this innovative company could stay and grow in Hudson. Fast forward to today and Hudson is home to RAMCO and its 165,000-square-foot state-of-the-art distribution headquarters and domestic manufacturing plant that has even more room to grow.
“Hudson’s investment in its infrastructure was a prime factor to enhance our manufacturing and technical capabilities for growth. Working with Hudson Public Power for proper energy service at affordable pricing plus the Velocity Broadband fiber data service were a big plus. The Hudson City staff was also very helpful and crucial to enable Ramco to meet its timelines for construction of a new, modern, and state-of-the-art facility that has not only brought a higher level of efficiency, but also impressed new customers and our Swedish joint venture partner, Bulten AB.”
-Mark Gamble, Chief Financial Officer of RAMCO Specialties, Inc.
RAMCO Stays in Hudson, Expands, and Practices Smart Manufacturing
RAMCO Specialties, Inc. has been referred to as a fantastic corporate citizen in Hudson. The company is a second-generation family business based in Hudson since 1986 and is an international leader in fastener and distribution manufacturing. RAMCO has completely realigned its workforce over the last few years demonstrating resilience and growth.
RAMCO had outgrown its space in Hudson. The founding family wanted to keep their roots in Hudson. The CEO stated he is, “committed to keeping the business in Hudson to carry on this tradition and deepen their roots in the community as the company grows.” To further encourage the business to remain in Hudson, the City purchased the facility that RAMCO had outgrown to house operations for Hudson Public Power. The City’s economic development director at the time worked out an incentive package that allowed for a 15-year, new construction tax abatement, as well as a pilot program that assured the school board that the Hudson City School District would receive a portion of what would have been the property taxes. The agreement also required a commitment from RAMCO to hire 20 additional employees within a four-year period.
Their original business was focused on the distribution of nuts, spacers, and washers. This sector had become commoditized, so in 2015, RAMCO broke ground on its largest expansion ever - a sparkling new 165,000-square-foot distribution headquarters and a new domestic manufacturing plant. The $12 million expansion allowed them to “reshore” - move production that was taking place in Taiwan into Hudson. This made RAMCO less susceptible to complications and costs common to international trade.
RAMCO’s operation, which has about $80 million in annual global sales, was able to consolidate operations of three buildings that had previously totaled 125,000 square feet, into a far more efficient state-of-the-art facility. The company was able to expand its operations to include design, engineering and production of specialized metal nuts used in OEM cars and trucks. They also began a multi-year effort to transition their workforce to support the creation and delivery of technical solutions to the U.S. OEM automakers. Today, they deliver assembled components to automakers who have focused on efficient assembly in an effort to drive costs down.
These efforts paid off in 2017 as RAMCO formed a joint venture with their Swiss partner. This combination of expertise and markets now means RAMCO has access to European and Asian automakers. It now serves the bulk of the world’s automakers. Furthermore, many foreign automakers have established U.S. operations, and RAMCO’s U.S. business base has expanded.
RAMCO epitomizes smart manufacturing in Hudson. Today, the company employs 132 full-time employees in Hudson and has enough remaining acreage to house an additional 130,000 square-foot addition and a 52,500 square-foot addition. The CEO has stated, “We should be here for the duration.”