Total investment to exceed $2.5 million
TIFFIN, OHIO – August 10, 2017 – Investors announced this week the purchase of OCECO Inc., located in the Airport Industrial Park in Tiffin, as well as plans to expand the business. The new owners have purchased the business, and are in the process to purchase the real estate, as well as invest in new equipment. They also plan on adding six new employees to the existing workforce.
President and CEO Mike Ruhe sees room for growth in the business: “We have identified opportunities to expand sales, and we are very impressed with the employees; they know we need to grow and they are ready.”
Founded in 1921, OCECO is a fabricator of high quality safety equipment for flammable liquid storage and wastewater gas disposal systems. They supply airports and energy companies like Marathon and Exxon Mobile and also do a large amount of business with municipalities, food production, and factory farms. Key products include fittings, flame arrestors and gas purification systems. They operate out of a 38,000 square foot facility in the Airport Industrial Park and have nine employees.
Seneca County Commission President Mike Kerschner is pleased to see the company grow: “OCECO has been a presence in the community for many years. It’s great to see new investment breathing new life into an existing company.”
The purchase of OCECO has been in development for more than a year, and the new owners are working with several banks, SIEDC, and other partners to obtain funding and receive assistance with export promotion and energy efficiency incentives. Previous owner Dick Borer, who purchased the company from Pettibone, worked diligently in finding new leadership to keep the business in Tiffin, and will be assisting with the transition.
OCECO – originally an abbreviation of Oil Conservation Engineering Company – was started in Cleveland, Ohio in 1921, and was the first supplier of a complete line of venting and tank fitting equipment.
Started in 1983, the Seneca Industrial and Economic Development Corp. (SIEDC) is a private, non-profit corporation dedicated to driving positive economic, downtown, and community development in Tiffin and Seneca County, Ohio, which consistently ranks among the top communities nationally for economic development. Learn more about the great things going on in Tiffin and Seneca County at www.senecasuccess.com.