Content area
Full Text
MAN Roland is selling off its US business which manufactures slitter rewinders and machinery for the converting industry. The Stanford division, located in Salem, Illinois, is being bought by a company called Stanford Products, Chicago, for an undisclosed sum, and the combined group will now trade as Stanford Engineering.The division began life in 1943 when Dutch Stanford started the Stanford Engineering Company. It was bought by MAN Roland in 1979, and has become well known in the rewinder and converting industry.The factory in Salem will be closed and production will be moved to the Stanford Products' works in Chicago. However, since large scale investment is planned, it is not thought there will have to be severe job losses. Stanford Products' president is Edward Padilla who, from 1984-1992, was the chief executive officer of the web press division of MAN Roland in the US."I am very pleased to have the opportunity to be associated with Stanford and its great history and potential for the future. We plan on investing heavily in engineering and new product development while maintaining the firm's reputation for quality," says Mr Padilla. MAN Roland and Stanford Products say all existing customer and vendor obligations will be met.