Laron Sold To OTC
A Kingman-grown business engaged in highly specialized repair, design and manufacturing activity has been sold to an out-of-state company. Laron Chief Executive Officer Glenn Thoroughman confirms the sale of Laron to the Ohio Transmission Corporation (OTC).
Terms of the deal completed on January 14 are confidential. Thoroughman said the management team will remain in place, that the business will still be called “Laron” and that there are no plans for changes in the operation.
Thoroughman said two men opened the Laron enterprise in 1975 at 2179 Northern Avenue. He said he purchased the business in 1985 and relocated it to the Kingman Airport Industrial Park in 1989.
Thoroughman said Laron employs a little more than 200 people, about half of them working in Kingman.
``Ohio Transmission Corporation is a leading technical distributor of highly engineered motion control, pump, finishing, and air compressor products. OTC serves over 15,000 customers across diverse end-markets by developing technical and consultative sales, repair and aftermarket capabilities," according to the OTC website. ``The company’s primary product offerings include pumps, bearings, power transmission, factory automation, finishing, and compressed air products and related services. OTC’s geographic footprint includes 33 branch locations in 16 states."