Chemical companies and selling.
Axle Corporation was formed in 1995. It is based in Iowa and operates throughout the
US Midwest. Axle is owned by the Miller family, one-third each by sister Midge (age
38), sister Trudy (age 51), and brother Jack (age 45). The company controls about $250
million in productive and investment assets, most of which are located in Iowa.
Axle started out as a wholesale distributor of paint and lacquer products, purchasing
gallon-size and larger containers of paints from chemical companies and selling them
mainly to retailers in its operating region. Over time, though, the company moved into
the manufacturing process as well, purchasing raw chemicals and processing them at its
Iowa plant so as to develop its own line of paints, thinners, and spray cans. These
manufactured products are sold to the big-box chains, including Ace and Lowes, for retail
distribution throughout the world.