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Werner Co.
 
 
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Werner Co. is the world's largest producer of ladders. The company also supplies other climbing equipment
Climbing equipment

A wide range of Sports equipment is used during rock climbing. The most popular types of climbing equipment are briefly described in this article. The article on protection describes equipment commonly used to protect a climber against the consequences of a fall....
, and specializes in aluminum extrusion
Extrusion

Extrusion is a process used to create objects of a fixed cross section profile. A material is pushed or drawn through a Die of the desired cross-section....
 and fiberglass
Fiberglass

Fiberglass, , is material made from extremely fine fibers of glass. It is used as a reinforcing agent for many polymer products; the resulting composite material, properly known as fiber-reinforced polymer or glass-reinforced plastic , is called "fiberglass" in popular usage....
 pultrusion
Pultrusion

Pultrusion is a continuous process of manufacturing of composite materials with constant cross-section whereby reinforced fibers are pulled through a resin, possibly followed by a separate preforming system, and into a heated die, where the resin undergoes polymerization....
. This private company is currently undergoing bankruptcy
Bankruptcy

Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors. Creditors may file a bankruptcy petition against a debtor in an effort to recoup a portion of what they are owed or initiate a restructuring....
 restructing.

History
Werner Co. was founded in 1922 by Richard D. Werner as "R. D. Werner Co., Inc.," a small business, selling materials for floors, carpets, and walls. The company quickly began to specialize in metal
Metal

In chemistry, a metal is a chemical element whose atoms readily lose electrons to form positive ions , and form metallic bonds between other metal atoms and ionic bonds between nonmetal atoms....
 moldings
Molding (decorative)

Molding or moulding is a strip of material with various cross sections used to cover transitions between surfaces or for decoration....
, including a patented brand of metal kitchen trim called ChromtrimTM.






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Encyclopedia


Werner Co. is the world's largest producer of ladders. The company also supplies other climbing equipment
Climbing equipment

A wide range of Sports equipment is used during rock climbing. The most popular types of climbing equipment are briefly described in this article. The article on protection describes equipment commonly used to protect a climber against the consequences of a fall....
, and specializes in aluminum extrusion
Extrusion

Extrusion is a process used to create objects of a fixed cross section profile. A material is pushed or drawn through a Die of the desired cross-section....
 and fiberglass
Fiberglass

Fiberglass, , is material made from extremely fine fibers of glass. It is used as a reinforcing agent for many polymer products; the resulting composite material, properly known as fiber-reinforced polymer or glass-reinforced plastic , is called "fiberglass" in popular usage....
 pultrusion
Pultrusion

Pultrusion is a continuous process of manufacturing of composite materials with constant cross-section whereby reinforced fibers are pulled through a resin, possibly followed by a separate preforming system, and into a heated die, where the resin undergoes polymerization....
. This private company is currently undergoing bankruptcy
Bankruptcy

Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors. Creditors may file a bankruptcy petition against a debtor in an effort to recoup a portion of what they are owed or initiate a restructuring....
 restructing.

History


Werner Co. was founded in 1922 by Richard D. Werner as "R. D. Werner Co., Inc.," a small business, selling materials for floors, carpets, and walls. The company quickly began to specialize in metal
Metal

In chemistry, a metal is a chemical element whose atoms readily lose electrons to form positive ions , and form metallic bonds between other metal atoms and ionic bonds between nonmetal atoms....
 moldings
Molding (decorative)

Molding or moulding is a strip of material with various cross sections used to cover transitions between surfaces or for decoration....
, including a patented brand of metal kitchen trim called ChromtrimTM. R. D. Werner Co., Inc. became a leader in plastics extrusion
Plastics extrusion

Plastics extrusion is a high volume manufacturing process in which raw plastic material is melted and formed into a continuous profile. Extrusion produces items such as pipe/tubing, weather stripping, window frames, adhesive tape and wire insulation....
 during the World War II restrictions on civilian metal usage
United States home front during World War II

The United States home front during World War II covers the developments within the United States, 1940-1945, to support its efforts during World War II....
. After the war, the started working with aluminum and developed the various types of aluminum ladders for which it is best known. Werner ladders were also made using other materials (esp. fiberglass and wood) in later decades.

In 1997, the company restructured, and sold a majority holding to the international investment group Investcorp S.A.
Investcorp

Investcorp is a provider and manager of alternative investment products, serving high-net-worth private and institutional clients. Principally, Investcorp is an investment intermediary, acting as a vehicle to channel the wealth of its clients in the Persian Gulf into investments in the United States and Europe....
. This increased Werner Co.'s capital base, but the resulting leveraged capital would lead to bankruptcy within a decade.

Bankruptcy


Werner Co. filed for Chapter 11. protection under the bankruptcy
Bankruptcy

Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors. Creditors may file a bankruptcy petition against a debtor in an effort to recoup a portion of what they are owed or initiate a restructuring....
 code on June 12, 2006, in Delaware
Delaware

Delaware is a U.S. state located on the East Coast of the United States in the Mid-Atlantic States region of the United States. The state takes its name from Thomas West, 3rd Baron De La Warr, a British nobleman and Virginia's first colonial governor, after whom Cape Henlopen was originally named....
. Werner reported audited net sales of $472.3 million for the year ending Dec. 31, 2005. As of March 31, 2006, Werner reported assets of $201 million and liabilities of $473.4 million .

As part of the resulting restructuring, the Extruded Products Division (formerly WXP, Inc.) was sold to HIG Capital

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