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completed contract basis, meaning a sale is not booked until 95
percent of the costs of the contract are expended and the
equipment is substantially complete.
As of November 1995, HII held stock in four subsidiaries:
Hess Engineering, Inc. (HEI), Capital Technologies, Hess MAE, and
X-Cel Steel Fabricating. HEI is a wholly owned subsidiary of
HII.2 It is HII’s largest subsidiary, and it operates as a
consulting engineering firm, engages in the business of designing
special machines, and also manufactures equipment for the steel
wheel and metal process industries. Capital Technologies, the
second largest subsidiary, builds tools and dies for the
automotive and appliance industries, and also builds factory
automation systems for the automotive industry. Hess MAE builds
straightening machines and spin-forming lathes. X-Cel Steel
Fabricating fabricates and supplies steel weldments and burnouts
for the machine building industries, including HII’s affiliates.
In February 1977, HEI hired Fritz Kucklick as vice president
of sales and service. Mr. Kucklick had previously worked with
Mr. Hess at Grotnes Machine Works, where Mr. Hess was the
director of engineering and Mr. Kucklick was a project engineer.
Mr. Kucklick assumed responsibility at HEI for application
engineering; preparation of quotations, cost estimates, and
2Between 1977 and 1995, HII made a number of acquisitions,
and the company grew to 400 employees.
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