Raven Industries history

So the company got into sewn goods.' To be sure that the company did not drift too far from its original mission, Yost formed Aerostar in 1960.

David Christensen, who joined the company in 1962, explained to Barron's how the seemingly disjointed directions in which Raven's early growth took the company were actually logical: 'The balloons were largely made of plastic, so the company got into plastics.

In 1972 Christensen ascended to the positions of president and chief executive officer and guided the company as it continued to seek out new markets.

By 1983, Raven's sales had risen to $31 million.

To bolster its position in this industry, Raven acquired Beta 11 Inc. in 1984.

Aerostar International was established in 1986 as a wholly-owned subsidiary of Raven Industries, carrying on everything which Raven was at its inception, and the technologies and expertise of Raven’s scientific ballooning history were transferred to Aerostar.

Raven solidified its place in that sector in 1987, when it acquired Astoria Fibra-Steel, a utility truck body business.

But despite the fact that 30 percent of its total sales in fiscal year 1991 were connected to defense contracts, Raven remained optimistic.

Sales rose to $149.6 million in fiscal 1998, and again to $152.8 million the following year.