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MODERNISTIC history
MODERNISTIC company history timeline
The town--with a population of 2,500 in 1955--formed a trust, the Forest City Industrial Development, to attract industrial ventures to their area.
In October 1957 the trustees voted to investigate making travel trailers, and Hanson became chairman of the search committee.
Work began at Modernistic Industries of Iowa on January 29, 1958.
Modernistic Industries of Iowa survived the year and by 1959 it had 17 employees.
In 1973 Winnebago Industries, by now the continent's largest recreational vehicle maker, had amassed more than 400 acres of land holdings in Forest City, including 46.5 acres of factory floor space, or two million square feet in all.
At the end of 1974 Winnebago's payroll stood at 1,600 people.
In May 1979 motor home production at Winnebago was halted for six weeks to reduce excess inventory owing to reduced consumer demand.
The 1980 lines of motor homes were smaller and more fuel efficient.
With a more assured business future, Winnebago saw yet another boardroom shuffle in 1981.
In order to further improve productivity, Winnebago moved part of its sewing operation from Forest City, Iowa, to Juarez, Mexico, in 1984.
In October 1986 Winnebago diversified its portfolio by acquiring majority control of Cycle Video, Inc., a satellite courier business specializing in transmitting television commercials from advertising agencies to broadcast affiliates.
In 1986 Gerald Gilbert became president and chief executive officer of the company, while Richard Berreth was appointed executive vice-president of operations.
Sales in 1988 had reached $430 million, but earnings slipped to $2.7 million, or 11 cents per share.
But the company's fortunes did not improve in 1989.
Revenues for the company plunged to $332.8 million in 1990 from $437.5 million a year earlier.
In 1992 sales for the company increased to $294.9 million.
Stillwater MN, July 18, 2018 -- At a time when businesses come and go and longevity is considered a thing of the past, Minnesota-based Modernistic Inc. has defied the odds, and is now celebrating their 80th year in business.
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