THE RMI TIME LINE -
Taken from 1997 Annual Report |
Approximate Sales |
Year |
Key Events |
| $.4 Mil |
1973: |
Sherman McKinniss
and a partner leased a building, purchased a rotomolding
machine, and started this rotational molding business in
Gardena, California. There were many obstacles at this time
period to establishing a new business. There was a recession and
no financing was available for plastics' businesses from banks.
Resin shortages existed and resin prices were frozen at high
levels. However, hard work and determination prevailed.
|
| $1.2 Mil |
1975: |
Sherman McKinniss
bought out his partner and began to move the business forward as
a sole proprietor. |
| $2 Mil |
1976: |
RMI, working with 16
other rotomolders, through dedication to the rotomolding
industry, successfully established the Association of
Rotomolders (ARM). Mr. McKinniss served multiple years as a
director and was president of ARM from 1978-1979. He was also
one of the first six people inducted into The Association of
Rotational Molders Hall of Fame. ARM is now a worldwide
association with over 320 rotational molding members. |
| $3 Mil |
1978: |
In order to corner a
large part of the northwestern market, RMI-Idaho was purchased. |
| $0 |
1983: |
RMI-Florida was established
by Mr. McKinniss and a group of investors as a separate
corporation. |
| $6.8 Mil |
1986: |
Sherman McKinniss
sold the California and Idaho operations to Pentron Industries,
a public corporation. This entity later became Koala
Technologies Corporation and today is known as Rotonics
Manufacturing, Inc. |
| $2 Mil |
1987: |
Ice Creations, later
known as RMI-Denver, was acquired by Pentron. During this time
period, Mr. McKinniss headed a group of investors and acquired
RMI-Chicago. |
| $4.5 Mil |
1988: |
RMI-Chicago
expanded and purchased RMI-Wisconsin and then later in the year
acquired RMI-Florida. |
| $8 Mil |
1989: |
The RMI-C group,
comprised of Chicago, Wisconsin, and Florida, purchased RMI-Denver
from Pentron/Koala. |
| $21 Mil |
1991: |
The successful RMI-C
management team merged their assets with Koala and formed basis
of the company as it is known today. At the time of the merger,
Koala’s stockholder share price had dropped to $0.12 per
share. This was a remarkable time for RMI, as the management
team had major hurdles to overcome coupled with very little
shareholder equity in its drive to rebuild a viable and
prosperous corporation. Through bank refinancing and hard
working employees, sales were increased and profitability was
regained. |
| $26 Mil |
1992: |
Plastech, which
consisted of RMI-Texas and RMI-Pennsylvania, was acquired and
added to the RMI group. |
| $31 Mil |
1995: |
RMI-Arleta,
California, was acquired to increase the manufacturing and sales
capacity of the California operations. |
| $36 Mil |
1996: |
RMI-T was expanded
for the second time since the purchase in 1992. |
| $36 Mil |
1997: |
RMI purchased a
large facility and merged RMI-C and RMI-W into one location at
Bensenville, Illinois. |
| $47 Mil |
1998 & 1999 |
RMI purchased a much larger facility and
relocated RMI-D to Commerce City, Colorado. |
| |
|
RMI
acquired Rotocast International increasing total number of
manufacturing and sales facilities to 13.Closed and merged Pennsylvania to Chicago and
Texas; Arleta to Gardena and Las Vegas; and Mia mi Rotomolding to
Brownwood and Bartow. |