A Giant Under the Bridge by Rich Bryda

There’s a Little Giant living under the Bridge at Front and Lou Groza Blvd. And it's been there for 116 years. It’s name ? “The Ohio Nut and Bolt Co.”/ Div of Fastener Ind…. It was founded on March 3, 1905, by Dr. J. C. Marting, then, Treasurer of Baldwin Wallace College. The company initially produced primarily bicycle chains. In 1927, Roderick J. Whelan, Sr., the general manager , purchased the company. Whelan’s background in the manufacture of munitions during World War One and Two, showed him the tremendous opportunity for manufacturers of special nuts and bolts. Whelan took Ohio Nut and Bolt in a new direction by adding weld fasteners to it’s production capabilities. Weld fasteners are Nuts, Bolts or Pins designed to be electronically welded in place to a metal component or stamping. In 1928, Ohio began supplying its weld screws to the Ford Motor Co.. These Weld Screws were welded to the frame of the Model A to allow one handed assembly of fenders. They were ideal for Henry Fords assembly line concept. …..In 1979, 2nd generation owners, Rod Whelan Jr. and Sister Jean (Whelan) Doheny decided to sell the company. 

Richard Biernacki, then treasurer of the Corporate entity, Fastener Industries, knew of “Employee Stock Ownership Plans” (ESOP) and suggested the employees buy the company. The Whelan’s approved and employees were allowed to invest in the Company, all or part of their own retirement fund which was a Company plan, initiated by Rod Whelan Jr. in the early 1960s. New employees gain shares in the company yearly, based on a percentage of salary…….Today Ohio Weld Fasteners are known nationwide and in many foreign markets as the Weld Fastener of choice for manufactures of an endless array of products. The Company operates a second manufacturing facility and master distribution center known as Buckeye Fasteners in Brookpark. It also has stocking distributors on the west coast and it’s own warehouse shipping operations in Chicago, Atlanta, and Toronto Ontario. Fastener Ind also owns three other subsidiary Companies that are owned by all the employees….. In the ESOP world, Fastener Ind. is known as a “model ESOP”. It’s 100% employee owned, compared to some others that are only partially owned by employees….It’s a Giant name in Manufacturing and a Giant name in Employee Ownership but ONB is classified as a small business….I’m an ONB retiree.