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Semco history
Semco company history timeline
The Keystone Tool Company was founded in 1947 in Houston, Texas, by C. K. Stillwagon.
During his first three years in business, Stillwagon designed, engineered, and patented his renowned "butterfly valve." In 1951, he began production of the valve that would be the foundation for his company throughout most of the 20th century.
A visit to Brazil in 1952 prompted him to think about the prospects that a “vast, undeveloped country”6 like Brazil presented.
SEMCO, whose headquarters is located in São Paulo, started in 1952 by Ricardo’s father, Antonio Semler, with a small patent for a centrifuge
With an urge to start his own business, he selected the city of Sao Paulo to start his venture, SEMCO, a contraction of Semler & Co, in 1953.
In 1953, the firm acquired the Albion Gas Light Company, another small Michigan energy provider.
1953: Albion Gas Light Co. is purchased.
SEMCO's management team assumed some key positions at Keystone, but 39-year-old R. A. LeBlanc, who had been with Keystone since 1959, retained his leadership role.
1963: SEMCO founded as sheet metal fabrication plant
1977: Reorganization creates the holding company Southeastern Michigan Gas Enterprises
1978: Introduced FP air handling unit
The fall was disheartening, especially given Keystone's average income growth rate of 10 percent since 1979.
SEMCO has been in business since 1984 providing high-end wireless communications products to United States and allied International governments and their related prime contractors, research agencies and companies.
1985: Battle Creek Gas Co. is acquired.
SEMCO was started in 1985.The office was a two-room apartment with a monthly rent of 40,000 yen.
1985.08 Developed and began manufacturing and sales of float type level indicators.
One drawback of the 1986 merger was that Keystone assumed a large amount of debt.
1986.04 Developed and began manufacturing and sales of float type level indicators (with contacts and remote indication).
By 1987 the company was already achieving record sales levels, and by 1988 the company had accomplished the bulk of its global manufacturing and sales force consolidation initiatives. Its total debt had fallen from $124 million in 1986 to just $71 million.
1987: Michigan Power Co. is purchased.
1987.03 Began manufacturing and sales of remote type level indicators.
1987: Developed 3Å molecular desiccant
1988.09 Merged with the Flow Indicator Division of Nihon Kogyo Keiki Co., Ltd.Began manufacturing and sales of flow indicators.
By 1989, Keystone was generating revenues of $376 million annually and netting income of $37 million.
In 1990, the firm was ordered to repay customers $1.4 million by the Michigan Public Service Commission because of rules requiring refunds for earnings above pre-established levels.
In 1991, it purchased Kunkle Industries, a leading manufacturer of spring-operated valves.
Continuing to pursue the idea of vehicles powered by natural gas, in 1991 the company built the first fueling station for this purpose in Michigan in the small town of Negaunee in the state's upper peninsula, where the firm's Michigan Gas Company subsidiary provided service.
Besides those expenses, Keystone earmarked $22 million in 1992 for a complete restructuring of the company; the reorganization entailed assimilating the six companies and 11 major product lines that Keystone had acquired in recent years.
Despite Keystone's diversity and good reputation for quality and service, the global recession caught up with the manufacturer's balance sheet in 1993.
In 1993 president and CEO Robert Thomson retired and his place was taken by executive vice president Ward Kirby.
The pipeline, which was completed in 1993, had exceeded its original budget of $70 million by almost half and was consistently underutilized.
1993: Launched FV series and Microlink estimating software
Johnson told securities analysts in September of 1996 that "the dog won't hunt," and declared resolution of the NoArk issue his number one priority.
In 1996, CEO Kirby left and William L. Johnson was appointed to the top post by the board.
In early 1997, the company shortened its name to SEMCO Energy, Inc.
Another acquisition followed in November of 1998 when Oilfield Materials Consultants was purchased for $15 million in stock and the assumption of $1.1 million in debt.
By 1998, SEMCO had outsourced most of its functions to other companies or moved these to its satellite firms, which were a refined version of autonomous units like NTI. The main company only retained functions which were considered strategically important for the organization.
During the winter of 1998, the company completed an early retirement program that reduced its payroll ledger by 101 employees, about a fifth of the total, which helped lower operating costs.
1998: The company's stake in money-losing NoArk Pipeline venture is sold.
1999: First intelligent ventilation system - Pinnacle; ASHRAE 84 compliant R&D facility opened
In April of 2000, Aretech Information Services was formed to offer computer application hosting services for small and medium-sized businesses in Michigan.
SEMCO estimated that the previous 3-year price freeze had saved its customers $112 million in 2000 alone.
2000.01 Acquired patent for float type level indicator DF (patent No.
The publicly owned firm, which has been expanding rapidly through internal growth and acquisition, shelved plans to seek new ownership in 2001 when a review concluded that the timing was not right for such a move.
During the year construction was also started on a $7 million, 7-mile long pipeline in Zeeland, Michigan that would supply natural gas to a Southern Energy electrical plant which was expected to come on line in 2001.
Repeat customers accounted for around 80% of SEMCO’s 2003 annual revenues.
2003.01 Began manufacturing and sales of water level detection and alarm systems for bulk carriers.
2003: True 3Å wheel first installed into major research labs at Johns Hopkins
4. Ricardo Semler, The Seven Day Weekend: Changing the Way Work Works, Portfolio 2004.
As of 2004, SEMCO had nine units.
2004.05 Began sales of pressure type level transmitters.
2007: SEMCO acquired by FläktWoods
2011: Developed high capacity chilled beam for US market
In 2012, Semco Partners transitioned into a partnership structure featuring six directors who have worked together for many years
2015.10 Developed and began manufacturing and sales of the Smart Sounding Scale “Honesty.”
2016: Patent award for NEUTON chilled beam pump module
2016: DencoHappel and Fläktwoods successfully merge to form FläktGroup.
History of Development of Semco Organization. (2018, Jan 28). Retrieved from https://graduateway.com/about-semco-case/
2018.05 Acquired patent for the Smart Sounding Scale “Honesty” (patent No.
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