Richmond's J.M. Hutton adds new equipment to stay ahead of casket industry changes

He foresaw that casket-making, the mainstay of J.M. Hutton Co. since its founding in 1870, was on the decline. The growing popularity of cremation and the growing number of imported caskets from China and Mexico were eroding the market for the Richmond company.

"We ... got busy and diversified," said Jeffers, J.M. Hutton's chief executive officer.

He started purchasing buildings and equipment such as laser cutters, stamping machines and powder coaters, making the company able to manufacture not only more parts for its casket operation but also parts for other companies.

The years have justified Jeffers' strategy.

In 2010, he estimated casket-making accounted for about 84 percent of J.M. Hutton's business. Now, it's more like 60 percent and still sliding.

"It's declining a little seemingly every month," said Jeffers. "But the other business is picking up."