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Hy-Matic Manufacturing closing its doors

April 4th, 2013

News Coverage:

Hy-Matic Manufacturing closing its doors

Posted: Thursday, April 4, 2013 2:01 pm

By Dennis Nartker
dennisn@kpcnews.net

KENDALLVILLE — One of Kendallville’s oldest family-owned industries is closing its doors.

Rick Borger, president of Hy-Matic Manufacturing Inc., announced Thursday his company at 205 W. Ohio St. will close when its last customer order is filled on Friday, April 12.

Hy-Matic has been in business in Kendallville more than 50 years, specializing in the precise production of high-quality specialty parts made from aluminum, brass and steel alloys, especially for engine, transmission and hydraulic applications. Customers included the heavy equipment, automotive and agricultural industries.

The company has 10 employees and several of them already have new jobs lined up, according to Borger.

In a prepared statement, Borger said his company was hit hard during the recent recession.

“It hit us especially hard. And when we recently lost our two biggest customers, we couldn’t afford to keep the doors open,” he stated.

He described it as a perfect storm that led to the closing of operations. The general economic conditions, losing its two largest customers, the financial and banking meltdown that tightened operating lines of credit, and changes in customer management teams along with increasing competition contributed the decision to close the company.

“We could have survived if any one or two of these had not happened. The problem is they all hit us within the last few months,” stated Borger.

Borger’s father Robert Borger, along with William Wilson and Jim Hammer, all from Sheridan, Ind., started Hy-Matic in 1961 in the building currently occupied by the NAPA store at 960 W. Harlash St. They moved the business to the current location on Ohio Street in 1962.

Rick Borger started working for his father as a youngster cutting the grass and other odd jobs around the shop. He became a regular employee in 1973 and learned everything about the business.

Hy-Matic grew steadily over the years, requiring additions to the building, according to Borger. Because of the quality of its work and customer service, the company landed high-profile customers like Allison, Caterpillar, Parker Hannefin and PHD. About 10 years ago, Hy-Matic was awarded ISO 9001 certification, making it easier to find new customers.

In 2012 Mayor Suzanne Handshoe recognized Hy-Matic for its 50 years of service to the Kendallville community.

“Any time a business closes we feel the impact, especially one with a long history,” said Handshoe. “My condolences to the Borger family and their dedicated employees.”

Handshoe said WorkOne can help the displaced employees and several companies in Noble County are in need of skilled employees like those at Hy-Matic.

At this time no potential buyers have expressed interest in the company, stated Borger. The plan is to sell off the machine tools and as many other assets as soon as possible.

Categories LayoffsClosures