GSI Group acquires grain dryer manufacturer
March 01, 2001
by Emily Wilson
FFI Corp., the maker of Farm Fans and Zimmerman grain dryers and grain-handling equipment, has been acquired by the GSI Group, Assumption, Illinois, U.S.
FFI will continue to be operated as a separate division of the GSI Group, and Curt Fankhauser will remain as president.
"The cyclical and seasonal nature of this core business resulted in a decision by the company to seek a strategic partnership with a more diversified agricultural equipment manufacturer," FFI said in a prepared statement. "The merger will allow FFI Corp. to operate as a separate division of a much more diversified organization."
FFI' s customer service, sales, marketing, engineering and administrative functions will remain in Indianapolis, but manufacturing and shipping have been relocated to GSI's manufacturing facilities in Assumption, Paris and Newton, all in Illinois.
"We're building dryers now out of our Illinois facilities," said Mitch Golleher, GSI vice-president.
FFI said its manufacturing facility in Beech Grove, near Indianapolis, was closed Feb. 26. As a result, about 100 factory workers lost their jobs.
FFI began business in 1947 as Ewing Foundry, turning out metal castings. The company changed its name to Farm Fans in 1959 to reflect its primary products, and became FFI in 1989.