A third generation of family members connected to the company founder has taken over management of Reliable Production Machining & Welding, formerly known as Reliable Tool & Machine.

On July 1, the management team of Chuck Drerup, company president, and Tom Walterhouse, chief executive officer, completed a buyout of Arthur Charles' 50-percent share in the company. The purchase concluded the transition of ownership to a third generation of family members connected to Harvey Charles, who formed the company in 1946.

Owen Drerup, Chuck Drerup's father, remains chairman of the board with a minority interest in stock.

Reliable will continue to provide production machining and welding services to some of the world's largest construction equipment, lawn care equipment, trailer, RV, agricultural equipment and marine industry manufacturers. In addition, Reliable will continue to provide aftermarket parts to the retail sector through some of the nation's largest retailers.

"We are specialists in production machining and welding more so than creating tools, so it just made sense to establish a more accurate corporate name as part of this ownership transition," said Greg Salway, vice president and general manager, when explaining the company's new name. "In time, when many of our industry customers consider buying foreign made products, we are excited that they choose American made products by Reliable."

Reliable maintains its status as one of the largest employers in Kendallville, according to Salway. The buyout does not affect jobs at any of its facilities, and the companyl likely wilintroduce new positions in the coming 12 to 18 months.

The company at 300 W. Ohio St. currently has about 100 employees working two shifts at both its Kendallville manufacturing facilities. During the nation's economic downturn, Reliable's workforce had decreased to about 60 employees.

"Business has been very good," said Salway. "Our business is looking strong through the end of the year."

Chuck Drerup, grandson of founder Harvey Charles, commented, "There are many exciting opportunities for Reliable to grow in several marketplaces, and this transition of ownership from my father's generation to ours provides us with a renewed commitment to the family business."

Drerup said the company will continue to provide the highest quality products and services to its existing customers and new customers. "It's important to me that each and every customer is handled with excellence and professionalism," he said.

Walterhouse said one of the most important concerns about the buyout was that the new management team wanted to enhance the company's rich tradition with new modernization in production and how the company markets itself. Reliable has partnered with Day 6 Design of Kendallville to develop a new logo, website and other key marketing tools as part of the transition to new ownership.