Page 54: of Maritime Reporter Magazine (November 2016)

WORKBOAT ANNUAL R.W. Fernstrum

Keeping Things

Cool for 67 Years

Photo: RW Fernstrum “Diversify, diversify, diversify … always,” is Looking Back

Founded by Robert W. Fernstrum 67 years the way that Sean Fernstrum neatly summarizes Understanding a company’s history, particular- ago, R.W. Fernstrum & Company is currently the challenge of running an ef? cient business to ly when it is a tightly held family run company, and through the many up and down cycles com- is often a good window into its future. In the case run by its third generation of Fernstrum. This mon in the maritime market. “You have to be in of R.W. Fernstrum that would entail engineering long-tenured maritime staple has seen its fair different markets. You try to ride an even line acumen and a dogged pursuit of new opportuni- (with diversi? cation). We rode the oil wave for ties.

share of maritime cycles, and in today’s chal- a number of years, but you always have to have “My grandfather Robert Fernstrum started the lenging market it is not standing still. The com- other pieces in place for when a market drops business in 1949 when he moved back to his home off.” town of Menominee, Mich., and started selling pany is digging for, and ? nding, business in

Despite the paucity of new business in the oil Gridcooler Keel Coolers,” said Sean. “The ori- all four corners of the world, above water and and gas sector, there are always emerging and gins of our product lines have been a foundation niche markets, such as the tidal power generation for our success. The Gridcooler Keel Cooler was below, as Sean Fernstrum (pictured above), market, that hold strong potential. “You’ve got developed to solve a cooling problem for landing

President & owner, and his team explain.

to be opportunistic and able to jump on it when craft during WWII. My grandfather was the chief it presents itself,” said Sean. “Don’t be overly engineer at Gray Marine and Continental Motors concerned on where that opportunity is located; during the war. Gray Marine built landing craft there’s always a way to get that done.” and needed to devise a compact closed-circuit

By Greg Trauthwein 54 Maritime Reporter & Engineering News • NOVEMBER 2016

MR #11 (50-57).indd 54 11/3/2016 5:40:52 PM