Richardson Electric Inc., Chattanooga, Tenn., has agreed to merge with its neighbor, Creswell Industrial Supply, to form Creswell-Richardson Supply, according to a story in the Chattanooga Times Free Press. Rob Creswell, president, who owns the company along with his brother, Greg Creswell, and their father, Bob Creswell, told the Times Free Press that the merger was a way to streamline during tight economic times while preparing for growth they expect from the arrival of a Volkswagen plant in the area. The newly combined company opened its doors on April 9, but the 23 employees continue to move Creswell’s inventory from its former address into the 33,000-square-foot facility occupied by Richardson Electric.
Officials declined to discuss the financial arrangement, but Creswell told the Times Free Press that he expects the merger to increase sales about 13 percent this year. The combined company will continue to supply electrical and bearings and power transmission parts for automotive and textile industries, construction contractors, foundries and heavy industrial customers just as each of the two did separately for almost 40 years. Creswell-Richardson Supply also will keep the engineering services business, known as ETO or Engineered to Order, that Creswell provided and the TechCraft Automation, that has been a major part of Richardson Electric’s business.