Description of Franklin Electric Co Inc's Business Segments
Water Systems Segment
Water Systems is a global leader in the production and marketing of water pumping
systems and is a technical leader in submersible motors, pumps, drives, electronic
controls, and monitoring devices. The Water Systems segment designs, manufactures
and sells motors, pumps, electronic controls and related parts and equipment
primarily for use in groundwater, wastewater, and fuel transfer applications.
Water Systems motors and pumps are used principally for pumping clean water
and wastewater in a variety of residential, agricultural, and industrial applications.
Water Systems also manufactures electronic drives and controls for the motors
which control functionality and provide protection from various hazards, such
as electric surges, over-heating, or dry wells or tanks.
The Water Systems business has grown from a domestic submersible motor manufacturer
to a global manufacturer of systems and components for the movement of water
and automotive fuels. Founded in the 1940s, the Company made submersible motors
for pumps for much of its history. About 10 years ago, it entered the pump business,
and has since grown through acquisitions. Highlights of the Water Systems business
transformation, from its origins to the present, are as follows:
1950s - Domestic submersible motor manufacturer
1990s - Global manufacturer of submersible motors, electronic drives and controls
selling to pump OEMs
2004 - Began to change the business model to include pumps and sell directly
to wholesale distributors
2006 - Added adjacent pumping systems, acquired Little Giant Pump Company, United
States
2007 - Expanded globally, acquired Pump Brands (Pty) Limited, South Africa
2008 - Continued global expansion, acquired Industrias Schneider SA, Brazil
2009 - International acquisition, Vertical, S.p.A., Italy
2011 - International acquisition, Impo Motor Pompa Sanayi ve Ticaret A.S., Turkey
2012 - Acquired majority interest, 70.5%, in mobile pumping systems company,
Pioneer Pump Holdings, Inc. ("PPH"), a United States company with
subsidiaries in the United Kingdom and South Africa
2014 - International acquisitions, Bombas Leao S.A., Brazil and majority interest,
70%, of Pluga Pumps and Motors Private Limited, India
2015 - Acquired remaining 29.5% noncontrolling interest of PPH
Fueling Systems Segment
Fueling Systems is a global leader in the production and marketing of fuel pumping
systems, fuel containment systems, and monitoring and control systems. The Fueling
Systems segment designs, manufactures and sells pumps, pipe, sumps, fittings,
vapor recovery components, electronic controls, monitoring devices and related
parts and equipment primarily for use in submersible fueling system applications.
Fueling Systems has expanded its product offerings through internal development
and acquisitions. Highlights of the Fueling Systems history are as follows:
1990s - Domestic manufacturer of submersible turbine pumping systems
2000 - Acquired Advanced Polymer Technology, Inc., a manufacturer of underground
pipe for fueling applications, and EBW, Inc., a manufacturer and distributor
of fueling hardware components
2006 - Acquired Healy Systems, Inc., a manufacturer of fueling nozzles and vapor
recovery systems
2010 - Acquired PetroTechnik Limited, a United Kingdom distributor that designs
and sources flexible and lightweight underground pipe
2012 - Acquired Flexing, Inc., a manufacturer of fueling equipment including
stainless steel flexible hose connectors
2014 - Acquired majority interest, 65%, in Wadcorpp India Private Limited, India,
a distributor of fueling equipment
Fueling Systems products are sold in highly competitive markets. Rising car
use is leading to more investment in gas stations which, in turn, leads to increased
demand for the Company’s Fueling Systems products. The Company believes
there is growth opportunity in developing markets and, accordingly, acquired
an investment in India in 2014. Fueling Systems competes in each of its targeted
markets based on product design, quality of products and services, performance,
availability, and price. The Companys principal competitors in the petroleum
equipment industry are Danaher Corporation and Dover Corporation.
Intraday data delayed per exchange requirements. All quotes are in local exchange time. Intraday data delayed 15 minutes for Nasdaq, and other exchanges. Fundamental and financial data for Stocks, Sector, Industry, and Economic Indicators provided by CSIMarket.com
Disclaimer: Information provided by CSIMarket.com is for informational purposes only and does not constitute investment advice, recommendation, or solicitation to buy or sell any security.
8.05 %