Founded in 1946, Bedford metal stamping company employs 140
By Carol Johnson, Southern Indiana Business Report
A Bedford manufacturing company founded in 1946 will be inducted into the Indiana Manufacturers Association’s (IMA) Manufacturers Hall of Fame next month.
Stone City Products (SCP), a precision metal stamping company, is one of eight firms that will be honored during a luncheon Oct. 19 in Indianapolis.
“It was completely out of the blue and it’s quite an honor,” said Stewart Rariden, SCP owner and president.
“The goal of the IMA Manufacturers Hall of Fame and Manufacturing Excellence Awards is to celebrate and recognize the positive achievements made by Indiana manufacturing companies, and to honor their contributions in furthering manufacturing in Indiana,” said IMA President and CEO Brian Burton. “As the most manufacturing-intensive state in the nation, Indiana employs nearly 20% of the Indiana workforce – more than 503,000 employees. Additionally, Indiana manufacturing continues to be one of the highest paying industry sectors in the state, and accounts for 26.41% of the total output in the state.”
SCP has experienced significant growth over the past two decades and employs 140 people, a considerable increase from the 1950s when it employed about 25 people.
Fueling the growth has been investment in equipment, plant expansion and building a customer base.
“We’ve invested quite a bit in the company in the last 25 years,” Rariden said. “We’ve branched out into different business segments we weren’t involved with before. We’ve been able to put together a good reputation of quality, customer service and dependable delivery time.”
Rariden said he invests between $500,000 and $1 million annually back into the business as profits allow.
Three years ago, SCP constructed a 30,000 square foot building to accommodate growth. The plant now operates seven days a week, running two 10-hour shifts Monday-Thursday and a 12-hour shift Friday-Sunday.
The average consumer might not recognize what SCP manufactures, but Rariden said consumers know well the products that are made with SCP parts.
SCP makes components for washing machines and clothes dryers, ovens, dishwashers, residential gas and electric furnaces. SCP also makes parts for electrical panels and parts for automobile seats and exhaust systems.
History of Stone City Products
The business was founded in 1946 by three tool and die makers from Seymour and Columbus.
By the early 1950s, the owners were in financial trouble and approached Marshall Miller, Rariden’s grandfather, about getting involved to minimize the losses to the bank; Miller was a Citizens Trust Bank director. Miller would later buy out the partners.
What began as a tool and die facility eventually evolved into a stamping company. In 1954, Miller invited his son-in-law David Rariden, who was working for Purdue University, to join the business. In 1956, the company purchased the stock of the remaining original owner and David Rariden became president and chief executive.
Stewart Rariden said his grandfather, who passed away in 1957, was a well-known entrepreneur in Bedford with ownership in several companies during his life.
Stewart, who joined the family business in 1973, said his father and grandfather would have different reactions to the Hall of Fame honor.
“My grandfather would be pretty impressed. Dad I’m not so sure,” he said. “He really didn’t want to own a larger company. He was very happy with a small or medium-sized company and was perfectly satisfied with that.”
Stone City Products has been a member of the IMA since 1959 and David Rariden previously served as a chairman on the IMA board of directors.
The goal of the Hall of Fame is to celebrate and recognize the positive achievements made by Indiana manufacturing companies. Those selected must have a long-standing history in Indiana and be a growing and evolving company. They must also have supported the manufacturing industry through involvement in organizations, such as the Indiana Manufacturers Association.
Other Hall of Fame inductees
In addition to Stone City Products, the following businesses will be honored:
- Boyer Machine & Tool Company, Inc., Columbus
- Caterpillar Inc., Lafayette
- Functional Devices, Inc., Sharpsville
- Heritage Environmental Services, Indianapolis
- Konrady Plastics, Portage
- Munster Steel Company Inc., Hammond
- My-te Products Inc., Indianapolis
Pete Yonkman, president of Cook Medical Inc., based in Bloomington is the keynote speaker.