Business & Finance: Pancho Villa's Boy

In Toledo, Electric Auto-Lite Co.'s Chairman Royce G. Martin, 68, is only the second biggest employer (8,000 workers in six plants).†But he is the world's biggest independent maker of auto parts. His company not only turns out 400 different items, ranging from sparkplugs to windshield wipers and tail lamps, but it is growing fast. Last week Martin broke ground for a new $2,000,000 plant, which will increase his employment by 1,000 and his sales an estimated $10 million a year.

The new plant's product, said Martin, will be an armed-forces electronic product "so secret...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!