| Bead consolidates all chain manufacturing at Sturge in the UK. It also ceases in-house plating and slitting of raw materials, instead outsourcing those operations to one of several quality companies in Connecticut.
The Mountain Grove building is put up for sale, and Bead moves into a single story, modern facility in Milford, CT incorporating the latest Lean Manufacturing techniques.
The joint venture with Sturge is dissolved and Bead sells its interest. A partnership with Samwon Petra in South Korea develops, and Samwon now manufactures Bead Chain® on Bead’s equipment to Bead’s specifications.