Thombert Inc. is in the minority of family businesses, but in a good way. The Newton, Iowa-based manufacturer of poly-urethane wheels and tires for forklifts has been in business for more than seven decades, and now the leadership reins are being passed on to a third generation of the Smith family. Brothers Robert and Tom Smith co-founded the firm in 1946 and it has been under the leadership of Walt Smith— son of Robert—for most of the last four decades, with Walt Smith becoming president in 1979 before the age of 30, and taking the chairman and CEO titles a few years later.
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