Tipp City company buys Mutual Tool name

A Mutual Tool timeline

DAYTON — The Mutual Tool name has a long history in Dayton’s machine and tool circles.

Rudolph “Rudy” Dudon Sr. started Mutual Tool & Die on Deeds Avenue in 1947. His daughter, Becky Edgren, carried on as chief executive in recent years, even as investment firm The Renaissance Group bought Mutual in December 2004.

In the fall of 2007, the company had 85 workers, up from 49 in 2005. In early 2008, the company announced a $2 million investment in its Lilac Avenue plant, following that with an Ohio government announcement that the firm would receive a $800,000 direct loan.

But the firm recently closed. Tipp City’s Indian Creek Fabrication & Machining acquired the name directly from a bank, and is now doing business as Mutual Tool.

“Mutual Tool had a reputation of a good, growing business back in the day,” said Dean Cooley, sales manager for Indian Creek.

The name’s new bearer will serve many of the same customers in the power and transportation industries, Cooley said.

Most customers were unaware of whatever difficulties the previous Mutual Tool was experiencing, and Indian Creek is working to bring more of them back on board. Cooley noted that the older company also had a “dba” (doing business as) arrangement as Mtd Acquisition dba as Mutual Tool.

“A lot of those customers were oblivious to whatever was going on in town,” Cooley said.

“We’re still trying to get them used to the fact,” said Chris Dakin, also an Indian Creek sales manager.

Cooley said his firm has “nothing to do” with the previous firm’s state loan. The only thing Indian Creek purchased was rights to the name, he said.

Ohio Department of Development spokesman Robert Grevey said the $800,000 direct loan was never disbursed to the company.