Glenn Sandgren


Ikonics Corp.




Allete isn’t Duluth’s only publicly traded company. Ikonics is small, with annual sales around $18 million, but it produces some fascinating technology. Its imaging equipment, materials, and processes are used not only in screenprinting but also for abrasive etching of aerospace and electronics components. It’s been a rough year for that customer base: Ikonics’ 3 percent sales decline last year presaged a 44 percent revenue plunge in 2020’s second quarter. In February, Glenn Sandgren succeeded Bill Ulland, who had been CEO for two decades. Sandgren had been president of Pallidus, an Albany, New York-based industrial electronics manufacturer. At Ikonics, he’ll be looking for new opportunities in troubled markets.