Chicago Rivet & Machine Co. operates in the fastener industry and is in the business of producing and selling rivets, cold-formed fasteners and parts, screw machine products, automatic rivet setting machines and parts and tools for such machines.
The company operates in the United States in two segments as determined by its products. The fastener segment, which comprises the company’s wholly-owned subsidiary, H&L Tool Company Inc., and the company’s fastener operations, which consists of the ma...
Chicago Rivet & Machine Co. operates in the fastener industry and is in the business of producing and selling rivets, cold-formed fasteners and parts, screw machine products, automatic rivet setting machines and parts and tools for such machines.
The company operates in the United States in two segments as determined by its products. The fastener segment, which comprises the company’s wholly-owned subsidiary, H&L Tool Company Inc., and the company’s fastener operations, which consists of the manufacture and sale of rivets, cold-formed fasteners and parts, and screw machine products. The assembly equipment segment consists primarily of the manufacture of automatic rivet setting machines and parts and tools for such machines.
The principal market for the company’s products is the North American automotive industry. Sales are solicited by employees and by independent sales representatives.
The company serves a variety of customers. Revenues are primarily derived from sales to customers involved, directly or indirectly, in the manufacture of automobiles and automotive components. The level of business activity for the company is closely related to the overall level of industrial activity in the United States. During 2023, sales to three customers were each at least 10% of the company’s consolidated revenues. Sales to TI Group Automotive Systems, LLC accounted for approximately 16% of the company’s consolidated revenues in 2023. Sales to Cooper-Standard Holdings Inc. accounted for approximately 14% of the company’s consolidated revenues in 2023. Sales to Martinrea International Inc. accounted for approximately 11% of the company’s consolidated revenues in 2023.
The company's business has historically been stronger during the first half of the year (year ended December 2023) due to the seasonality of automotive manufacturing.
Sales to foreign customers represent approximately 18% of the company's total sales in 2023.
History
Chicago Rivet & Machine Co. was founded in 1920. The company was incorporated under the laws of the state of Illinois in 1927.