Passport Labs, Inc. history

Dwight Goddard served as Park Drop Forge's first president and was succeeded by George C. Gordon in 1913.

Park Drop's future partner, Ohio Crankshaft, was established by William C. Dunn and Francis S. Denneen in a Cleveland garage in 1920.

Ohio Crankshaft created its TOCCO division in 1934 to produce and sell equipment used in this process.

By 1951, Park had sold enough lumber to start his own lumber remanufacturing plant in Eureka, California.

Park Industries® began providing full-service solutions to the stone industry in 1953.

The company generated sales of $20 million in 1956.

In 1958, a run-down mill owned by Georgia-Pacific Corp. was up for sale, and there were no immediate takers.

Wynne broke new ground when he opened the first Six Flags park, Six Flags Over Texas, in 1961.

Park-Ohio was created through the 1967 merger of Park Drop Forge Co. and Ohio Crankshaft Co.

The Charleston Ordnance Center he purchased from FMC Corp. in 1971 was obtained for $4.5 million.

In 1972 alone, Park acquired eight plants from companies such as Gulf & Western and Wean United and either liquidated the assets piecemeal or renovated the entire plant for sale to another party.

By 1973, Park had built his company into a $12 million business, and the intensity of his acquisitive activities did not slacken in the years ahead.

In July 1983, more than 100 United Auto Worker members employed at the Ohio Crankshaft factory in Cleveland went on a protracted strike marred by violence and frequent legal tangles.

In 1986, the price of copper fell to 60 cents a pound, dropping to a point that prompted more than a few mining concerns to reevaluate the profitability of copper mining.

Intihar led a return to Park-Ohio's traditional manufacturing focus, selling the company's money-losing energy interests to Atwood Resources Inc. for $29 million in 1988.

In 1989, Value-Line downgraded the company's stock to a speculative investment.

In 1990, Park acquired the assets of Teledyne Ohio Steel, a Lima, Ohio-based mill roll maker.

Intihar succeeded Richard S. Sheetz, a 24-year veteran of Park-Ohio's chief executive office, in 1991.

Although they reduced revenues to $120 million by 1992, these divestments freed up sorely needed capital for debt reduction, new production equipment, and other physical plant improvements.

Within that year alone, the firm made seven separate acquisitions, increasing annual sales to $149 million by the end of 1993 and, perhaps more important, returning the parent company to the black with a $6 million profit.

In the fall of 1996, in fact, Park-Ohio made a $170 million cash bid for Sudbury Inc., a northeast Ohio firm with about $300 million in annual sales.

By 1997, American Axle & Manufacturing was the largest privately-owned supplier of auto parts in North America, producing all of General Motors' axles for its line of pickups, Chevy Tahoe, Yukon, and Suburban sport utility vehicles.

Scheduled to open in late 1998, the luxury hotel was supposed to increase business at the I-X and give Park one more powerful revenue-generating asset.

TITAN® CNC Router 2000 Series were launched.

Tom Schlough receives 2015 ‘Migliore Award” for Lifetime Achievement.