Shimano bought out Gary Loomis quite a few years ago. He worked for them ever since. He has left and is now involved in a company that will make blanks for rod building.
Loomis (Shimano) is no longer going to offer their blanks to rod builders, so if you have any thought of making one, I would buy the blank for it right now.
Shimano is one of the largest rod/fishing gear manufacturer in the world. They are a solid company, IMO, and the cost-cutting moves they are making is just a little belt tightening in a tough economy. If you like their rods, I wouldn't hesitate to buy one.