ParkOhio Holding history

Dwight Goddard served as Park Drop Forge's first president and was succeeded by George C. Gordon in 1913.

Acquired MP Colinet, a Belgian lathe builder founded in 1921.

In 1927, for example, the company's motor forgings were used in the Spirit of St Louis, helping to make possible Charles Lindbergh's historic solo transatlantic flight.

Ohio Crankshaft created its TOCCO division in 1934 to produce and sell equipment used in this process.

The company generated sales of $20 million in 1956.

In July 1983, more than 100 United Auto Worker members employed at the Ohio Crankshaft factory in Cleveland went on a protracted strike marred by violence and frequent legal tangles.

In 1988, the company hired Stanley V. Intihar away from a 30-year career with TRW's automotive division.

In 1989, Value-Line downgraded the company's stock to a speculative investment.

In the late 1990’s, RB&W et al found that it was increasingly difficult to compete against items coming from Asia as a fastener distributor.

Intihar succeeded Richard S. Sheetz, a 24-year veteran of Park-Ohio's chief executive office, in 1991.

Although they reduced revenues to $120 million by 1992, these divestments freed up sorely needed capital for debt reduction, new production equipment, and other physical plant improvements.

The company continued to acquire new, operations and in 1993, purchased the plastic container division of Cleveland Steel Container, the General Aluminum Manufacturing Co., and Kay Home Products, a maker of barbecue grills, lawn care equipment, and patio furniture.

By 1994, Crawford owned nearly 33% of Park-Ohio.

In 1995, Park-Ohio moved its headquarters from Shaker Heights to TRW, INC.’s former headquarters at 23000 Euclid Ave in Euclid.

In the spring of 1996 the company created a new subsidiary, Park-Ohio Biomedical Group, to manufacture a patented prescription drug container.

Entering its 90th year of operation in 1997, Park-Ohio Industries Inc. is a Cleveland, Ohio-based conglomerate with operations in ten states.

Park-Ohio Holdings Corporation was formed in 1998, with Park-Ohio Industries Inc. as its direct subsidiary.

Over a year's period ending September 30, 1999, long-term debt climbed 65 percent, from $197.9 million to $327.7 million, Scott Suttell reported.

A downturn in the economy and subsequent slowdown in business had companies preparing investors for falling profits, according to a September 2000 Crain's article.

Worse yet, the company recorded losses of $37.4 million for 2001.

During 2003, the company recorded a $19.4 million restructuring cost and sales of $624.3 million.

Net sales climbed 15 percent over 2004, to $932.9 million from $808.7 million.

Park-Ohio reported record net income in 2005 of $30.8 million.

Simon, Ellen, "Park-Ohio Authorizes 1 Million Share Buyback," America's Intelligence Wire, September 28, 2006.

With the 2012 acquisition of Fluid Routing Solutions Inc., a highly successful manufacturer of hydraulic fluid assemblies and fuel filler and hose products, Park Ohio expanded its product offerings to existing and new industrial customers worldwide.

In April 2013, ParkOhio launched the next five years growth strategy during the N5 Conference held in Cleveland with over 160 associates from all business units to transform itself into a premier diversified industrial company.

The N5 Conference focused on two key objectives: gain commitment to achieving a goal of doubling the revenue with 12.5% profitable growth annually through 2017, and promoting collaboration between businesses and associates.