Biz buys industrial building, enjoys 'steady growth'
September 21, 2011 - Good news for the Village of Oxford – one of its vacant industrial buildings is about to be occupied by a new owner.
|Margy and Brian Russell, owners of Dry Coolers, Inc., purchased the 58,000-square-foot building at 575 S. Glaspie St. and plan to move their company there by the end of October.
The facility used to house Saturn Electronics & Engineering. (click for larger version)|
Dry Coolers, Inc. has purchased the 58,000-square-foot facility located at 575 S. Glaspie St. and plans to move in by the end of October.
"We're all very excited about this," said Vice President Margy Russell, who co-owns the company with her husband, President Brian Russell.
"We certainly believe in staying in Michigan," noted Brian Russell. "We think we have the ability, the talent and the wherewithal to compete (in) a global market."
Incorporated in 1985, Dry Coolers designs, engineers and manufactures industrial cooling systems for a variety of clients from small shops to Fortune 500 companies to military and government installations.
The company's work can be found in places all over North America and in other countries such as Sweden and Saudi Arabia.
"We ship all over the world," Margy Russell said.
The company is certainly no stranger to Oxford as it's currently located in the township at 3232 Adventure Lane.
Dry Coolers, Inc. decided to make the leap from leasing space to owning a building for a number of reasons.
"We need more production space, more office space," Russell said. "(The new building is) probably a third bigger."
More space is needed because business has been good.
"We've had steady growth," said Russell, who attributed this to the fact Dry Coolers, Inc. has a diverse customer base in terms of the industries it serves. "We're not just tied to automotive or anything like that."
In addition to offering more room, the new building also gives the company the opportunity to consolidate its operations.
Right now, it's spread out in different facilities on Adventure Lane.
"This will unify us – put us all under one roof and make us more efficient," Russell explained.
When asked why the company decided to stay in Oxford, Margy Russell replied, "Most of the employees are from the area or from north of here (in) Lapeer. It works well for the whole staff."
"We'd like to stay in Oxford because we think it's a great community with a talented workforce," added Brian Russell.
Speaking of staff, Dry Coolers, Inc. employs close to 35 people.
The company is currently looking to hire three additional people. It's posted the jobs on Craigslist and plans to post them on Michigan Works as well.
Margy Russell indicated that over the next five years, Dry Coolers, Inc. could possibly add five to 10 more folks to its workforce.
Although the company directory contains many people whose last name is Russell – five to be exact – it's not a requirement to work there nor do you have to be a relative.
"We have three different families of Russells, not related," she said. "It's pretty funny how many people here have the last name of Russell, but are not related. It's just a coincidence."
For more information about the company, please visit www.drycoolers.com.
CJ Carnacchio is editor for The Oxford Leader. He lives in the Village of Oxford with his wife Connie and daughter Larissa. When he's not busy working on the newspaper, he enjoys cigars/pipes, Martinis/Scotch, hunting and fishing.