Megadyne beltsI spend a day in Turino with one of our CEOs touring the factory and being updated on the company's progress. Megadyne is the world leader in the production of high precision polyurethane belts used in industrial applications. Think of a transmission belt shifting power across a machine. Or a conveyer moving a billion cigarettes down the packaging line. The belts making it possible are very likely made by Megadyne.
The company was founded in the 1950s by Carrado Tadolini and now run by his two sons, Giorgio (CEO) and Marco (R&D). Giorgio's three children are in the business and maybe will continue the family story.
Giorgio is charming and cunning - Carrado started Giorgio on the factory line and today he knows everybody on the floor, who stop their work to say 'hello' or nod their respects. When Giorgio took on the business in 1995, sales were 2m. Last year they were 300m - a 150-fold increase. Astorg became Co-owner in 2014.
Over lunch, at Giorgio's golf club, I tell Giorgio the story of my great grandfather crossing Ellis Island into lower Manhattan to escape the Russian pogroms of the 1890s. He owned nothing and spoke only Yiddish. My grandfather, Jacob Bernard, Moe's father, left school in the 8th grade to found Star Binding and Printing, which pulled the Orensteins into the great American middle classes. We were fortunate to visit Star Binding in 2014, on its 100th anniversary.