National Presto Industries

National Presto Industries is a company founded in 1905 in Eau Claire, Wisconsin[2] in the small kitchen appliances industry. Originally called the "Northwestern Steel and Iron Works" and then becoming the "National Pressure Cooker Company" in 1917, the company produced pressure canners. Beginning in 1939, National Presto Industries introduced small home-use cooking appliances. The company was admitted to the New York Stock Exchange on March 3, 1969.

National Presto Industries, Inc.
Public
Traded asNYSE: NPK
S&P 600 Component
IndustryConsumer products
Founded1905
HeadquartersEau Claire, Wisconsin, United States
Area served
Worldwide
Key people
Maryjo Cohen (President and CEO)
ProductsSmall Kitchen appliances, Ammunition, and Absorbent Products
Revenue$405.3M[1]
Websitewww.gopresto.com/

Background

The company is divided into three business segments (divisions), Housewares/Small Appliance; Defense; and Absorbent Products.[3] The Housewares/Small Appliance segment "designs and sells small household appliances", including pressure cookers, under the Presto brand.[3] The Defense segment produces ordnance and ammunition products.[3] The Absorbent Products segment "is primarily engaged in the manufacture of private label adult incontinence products."[3]

Having previously divested itself of almost all operations and having closed its defense operations in 1992, the company was a small household appliance seller.[4] In 2001, with the purchase of AMTEC, the company returned to the defense business.[4] In Nov 2005, Presto lost a fight with the U.S. Securities and Exchange Commission over investment status. A Federal Court judge ruled that Presto was an "inadvertent" investment company because of its huge cash holdings.[5] During the first three quarters of 2009, National Presto obtained more than $650,000,000 in contracts with the U.S. government for ammunition. Also in 2001, the company acquired RMED International and created its Absorbent Products division.[4]

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See also

References
  1. http://topics.nytimes.com/top/news/business/companies/national-presto-industries-inc/index.html
  3. "National Presto Industries, Inc. Announces Increased Second Quarter 2010 Sales and Earnings". National Presto Industries, Inc. July 30, 2010. Retrieved August 22, 2010.
  4. Condon, Bernard (November 16, 2009). "National Presto (Finally) Opens Its Wallet". Forbes Magazine. Retrieved August 22, 2010.
  5. "Presto loses fight with SEC over investment status" (PDF). Archived from the original (PDF) on 2012-08-13. Retrieved 2013-09-09.
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