In June 1945, Chicago businessman
Milton Reynolds was in
Buenos Aires,
Argentina, when he came across the first commercialized ballpoint, the
Biro pen. In October 1945, Milton was able to reverse engineer the Biro pen and was the first to manufacture and sell ballpoint pens into the US market. "Reynolds Rocket" pen was introduced at Gimbel’s department store in
New York City, selling $100,000 worth of pens on the first day. However, within three years the price of the pen went from $12.50 to 50¢. The Reynolds Rocket Pen had a tiny ball bearing that let ink out only when pressed against the item you were writing on. In advertisements Reynolds claimed it had enough ink to last 15 years without refilling. In 1947, in a publicity stunt to promote Reynolds' pens Milton Reynolds and William Odom announced they would beat Howard Hughes's
round-the-world flight speed record. They set a new record time of under 79 hours by flying the "Reynolds Bombshell" around the world while managing to pass out thousands of pens. In 1948, Reynolds expanded overseas and opened Reynolds European, and later in 1959 spun out Reynolds European SA as an independent company focused on non-ferrous metals. The Chicago-based Reynolds Pen Company closed with Milton Reynolds moving to Mexico. The French subsidiary survived as did their
Indian licensee. In May 2016, Reynolds' licensee—GM Pens International—in India decided to end their exclusive contract and stopped making Reynold branded pens, instead choosing to make their own
Rorito brand pen. The current Reynolds' licensee is Flair Pens. Flair markets and distributes Reynolds pens in India. Reynolds has an R&D facility in Chennai, India. Reynold Pens, along with Paper-Mate and Parker, are brands owned by US based
Newell Brands and are sold in more than 70 countries. ==References==