Acme United Corporation - Medical Field Entered in 1960s

Medical Field Entered in 1960s

Henry Wheeler added a new title, chief executive officer, in 1953. Then, in the 1960s, he expanded the company in a number of directions. A scissors' subsidiary, Surmano Ltd., was established in the United Kingdom to sell directly to the European market. Because of increasing demand for disposable medical scissors, Acme Shear became involved in the medical field. In 1965, it introduced a line of disposable medical scissors and surgical instruments, selling them to other companies that packaged them for the hospital market. This business did so well that in 1969 Acme Shear opened a major manufacturing plant in Fremont, North Carolina, one that met government requirements for the production and packaging of medical equipment. The 1960s were also noteworthy because a fourth generation of the Wheeler family became involved as Dwight C. Wheeler II, Henry Wheeler's son, joined the company in 1966. A graduate of the University of Bridgeport with a degree in manufacturing engineering, he worked as an industrial engineer at the Producto Machine Company in Bridgeport before coming to Acme United. The company marked its 100th anniversary in 1967, the same year that Acme United ceased to be a pure family business. Acme Shear conducted an initial public offering of stock, which then began trading on an over-the-counter (OTC) basis.

During the 1970s, Acme Shear continued its efforts at diversification. In 1970, it became involved in a school product kindred to scissors, rulers, by acquiring Westcott Rule Company, which had been founded in 1872 in Seneca Falls, New York. To better reflect the company's new business mix the 100-year-old Acme Shear name was dropped in June 1971 in favor of Acme United Corporation. The 1970s also saw continued growth in the medical field. In 1972, Acme United acquired One Time Package Products Inc., maker of single-use consumer package products, a deal that allowed Acme United to market its own line of products rather than rely on third parties. The medical products division now offered One Time disposable procedure trays, Reposable stainless steel instruments, and povidone-iodine microbicide, a germicide sold under the ACU-Dyne brand. In the late 1970s, Acme United brought out wound dressings, including a sterile, non-absorbent, self-adhering polyurethane dressing called ACU-Derm and an absorbent version sold under the Lyo Foam name. Also of note during the decade, in 1979 the company's stock graduated from the OTC and began trading on the American Stock Exchange.