Staying Social Is Part of the Game
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VOL. 38, NO. 35 AUGUST 28 - SEPTEMBER 3, 2017 On the rise Source Lunch Tremont expects Fred Cummings, to get a new apartment president of complex. Page 5 Elizabeth Park Capital The List Management Page 23 Cleveland’s highest-paid CLEVELAND BUSINESS athletes Page 17 SPORTS BUSINESS MANUFACTURING Staying social is part of the game Timken Northeast Ohio’s pro athletes haven’t shied away from showing their personalities on social, and those interactions buys into are becoming increasingly important to growing their overall brands — especially for LeBron James. Pages 10-16 products, markets By DAN SHINGLER [email protected] @DanShingler e Timken Co. is on a tear, and it’s far from nished. “In the last 12 months, we’ve actu- ally completed six acquisitions, which is by far the most we’ve ever done in a one-year period,” said Richard Kyle, CEO of the North Can- ton-based bearings and power trans- mission company. e company has been buying its way into new markets, new product lines and onto the supplier lists of new customers with its string of pick- ups, Kyle said. It’s a strategy he said will continue, because it’s working. Take the last three acquisitions the company has completed, all of them done since April, when it announced it was buying Michigan-based Tor- sion Control Products. SEE TIMKEN, PAGE 21 Companies’ patience is paying o By RACHEL ABBEY McCAFFERTY [email protected] @ramccaerty Crain’s Northeast Ohio’s public manufac- turing companies have been doing pretty well in recent months. Some of this, of course, can be at- tributed to an improved economy. But some of it is certainly due to the companies themselves, many of which used the slower years of late as a springboard for innovation and change. Illustration by Robert Carter for for Carter Robert by Illustration A lot of companies cut back when times are tough, but that “catches up” Entire contents © 2017 by Crain Communications Inc. to them eventually, said Materion AT THE TABLE Corp. president and CEO Jugal Vijay- vargiya. But Mayeld Heights-based Materion makes sure to invest in re- Melt makes Inc.’s search and development when times fastest-growing list are good and when they’re bad, so the advanced materials supplier can benet from it long-term. And it has Cleveland-based chain paid o. hungry to expand in “Our new product pipeline is the Ohio, other states Page 7 proof,” Vijayvargiya said. 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Member FDIC. ©2017 U.S. Bank. 171125c 8/17 “World’s Most Ethical Companies” and “Ethisphere” names and marks are registered trademarks of Ethisphere LLC. CRAIN’S CLEVELAND BUSINESS | AUGUST 28 - SEPTEMBER 3, 2017 | PAGE 3 City trying to land Canada’s Nova Steel By JAY MILLER 77, said Cleveland is competing with “It’s exactly what the “It ts well with the site,” Brancatelli an Ohio Job Ready Site by the Ohio De- one or more other cities for the oper- said, referring to the nearby Arcelor- velopment Services. at resulted in a [email protected] ation. He said the facility is projected site was built for.” Mittal steel mill and to two steel service Job Ready Site grant of $3.5 million and @millerjh to employ about 75 people. centers — Heidtman Steel Products a $1.5 million Roadwork Development “It’s a Canadian company looking — Anthony Brancatelli, Ward 12 Inc. and Steel Warehouse Co. grant to help pay for the cleanup. It re- Cleveland is in the running for a for a location in the United States, so Councilman “It’s exactly what the site was built quired 300,000 cubic yards of material new steel tube fabricating plant. there were lots of other opportunities for,” he said. dredged from the Cuyahoga River to City Council will take up legisla- in other states and cities,” he said. where crude oil can be rened into e industrial center is overseen make the site ready for redevelopment. tion in September, when it returns He said the company signed a higher value products like gasoline,” by the Greater Cleveland Communi- Since then, the state of Ohio and a from its August recess, that would of- nonbinding purchase agreement for stated IBISWorld, a Los Ange- ty Improvement Corp., a nonprot nearby business have committed to fer Nova Tube and Steel LLC, a sub- at least 30 acres at the site, on the les-based industry research rm, in a that creates public-private partner- move the reclaimed land. sidiary of Canadian steel processor land of a former steel mill. July market report. “Over the coming ships for land development in Cleve- In June, Coast to Coast Equipment and distributor Nova Steel, a 10-year, e new plant is a response to a years, crude oil production will con- land. In 2008, the city bought con- and Ohio High Reach, two related Val- 60% tax abatement to develop a tube demand for material to build oil and tinue to rise, and pipeline invest- taminated land that had been an ley View companies that rent, sell and mill manufacturing facility on land gas pipelines that is expected to grow ments will drive industry growth.” ArcelorMittal coke plant and slag service aerial lift equipment, broke now owned by a public-private de- over the next decade, after a drop fol- A Nova Steel spokeswoman declined dump. Cleveland has been ham- ground on a $3.6 million headquar- velopment corporation in the lowing the recession. to comment on the company’s expan- pered by a lack of large, developable ters on 6 acres in the industrial center. Cuyahoga Valley Industrial Center. “As production increased, oil and sion plans. A spokesman for Cleveland industrial land, and this redevelop- e Ohio Department of Trans- Councilman Anthony Brancatelli, gas companies demanded additional Mayor Frank Jackson also declined to ment eort gave the city 65 acres to portation is planning to build a new whose Ward 12 includes the land in pipeline capacity to transport crude comment before the legislation comes lure new industry to the city. maintenance center on 15 acres the industrial valley along Interstate oil from extraction sites to reneries, before a city council committee. In 2014, the property was certied as along the freeway. CLEVELAND BUSINESS 700 W. St. Clair Ave., Suite 310, Cleveland, OH 44113-1230 FOUNDATION Phone: (216) 522-1383 www.crainscleveland.com @CrainsCleveland Publisher/editor Elizabeth McIntyre Group publisher Mary Kramer Managing editor Scott Suttell Sections editor Tim Magaw Creative director David Kordalski Web editor Damon Sims Associate editor/Akron Sue Walton Assistant editor Kevin Kleps Senior reporter Stan Bullard Real estate/ construction Reporters Jay Miller, Government Dan Shingler Energy/steel/auto Rachel McCaerty Manufacturing/ energy Jeremy Nobile, Finance Lydia Coutré, Health care Data editor Chuck Soder Cartoonist Rich Williams * * * Events manager Ashley Ramsey Events coordinator Megan Lemke CONGRATULATIONS TO OUR CLEBEE PARTICIPANTS Integrated marketing manager Michelle Sustar Managing editor • BakerHostetler • Cleveland Metropolitan Schools • Engage! 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