Hammond Electronics history

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Moreover, the third generation of the Hammond family also took the company public in 1986 and shares in Hammond Manufacturing were listed on the Toronto Stock Exchange.

In 1990 Hammond was forced to write off the investment and the operation was shut down.

In 1995 a fourth profit center, Hammond Electronics Group, was created by pulling together the electronics business of the enclosure and transformer groups.

Furthermore, in 1996 the transformer and enclosure groups were consolidated into a new operational and strategic planning unit, the Industrial Group, headed by William Hammond.

Revenues totaled CAD 157.5 million in 1997 and net income increased to CAD 3.6 million.

In addition, in 1998 the company's small case business increased in the European market when Hammond acquired the aluminum diecast box businesses of U.K.-based Eddystone and Zettox.

Sales totaled CAD 59.9 million in 2001, compared to the CAD 64.4 million the same assets had generated the year before.

With the economy continuing to struggle, sales continued to decline in 2002, to CAD 57.3 million.

To make matters worse for Hammond, the Canadian dollar rose in value, hurting sales in the United States in 2003 and leading to reduced profits.

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