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Bit Players...These Guys Know the Drill
For the Hall family, drilling holes has been a way of life for over 30 years.
The small shop John Hall Jr. started on Dixwell Avenue in Hamden, CT made deep hole drills, the kind originally used to form the barrel of a gun.
"My dad started out as a tool and die maker at High Standard in Hamden," recalls John Hall III, senior vice president of Drill Masters, Inc., the company his father founded in 1972 and which recently relocated to Milford. "In 1984, my brother and I started with the company,
in the summers and while in school, learning all of the aspects of the business from our father."
Drill Masters manufactures deep-hole drills and accessories for companies in the automotive, aerospace, firearm and molding industries. The drills contain a carbide tip and a steel shank to drive precision holes into various types of metals.
John and Thomas Hall took over the business upon their father's death in 1989 and have been seeking ways to expand. In November, they closed a deal to buy out their biggest competitor, Milford-based Eldorado Tool, for an undisclosed amount.
According to John Hall, sales increased 50 percent following the buyout. He declined to specify the firm's annual sales.
Drill Masters also relocated to 336 Boston Post Road, the spot once home to Eldorado Tool.
Drill Masters also doubled the size of its staff to 70 with the buyout. Eldorado had approximately 70 employees and Drill Masters hired 31 of them.
John Hall said foreign investors were also interested in buying Eldorado, which would have taken more jobs out of the area.
"A Japanese company was interested, but we had the opportunity to retain and hire workers in Connecticut," he said.
According to Tom Hall, president of the company, Drill Masters decided to attach the Eldorado name to Drill Masters to make brand recognition easier for clients. The company is now called Drill Masters-Eldorado Tool, Inc.
"Eldorado has a very strong name in the industry," he said. "We wanted to keep the brand as people know it."
The Halls admit that the sluggish economy has affected Drill Masters' sales, but defend their decision to purchase Eldorado, recalling their father's determination during a previous recession. "Our dad went through some rough times in the 1980s," Tom Hall said. "I think it's a perfect move. We're doing the same in terms of sales with half the number of people."
The new year will be a period of adjustment for the company, as it tries to retain all of Eldorado's old customers and integrate manufacturing methods.
"We're a very service-oriented company," Tom said. "We are working to be more efficient and quality conscious."
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Now Available! Everything you ever wanted to know about Gundrilling
and more! |
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See the latest techniques and products in the industry. |
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Planning on attending a tradeshow this year? Stop by and meet the team behind Drill Masters Eldorado! |
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