T&b equipment co. history

With design, manufacturing, and sales efforts all advancing at a healthy rate by 1917, it was time to centralize resources and consolidate operations.

Critical to that core was the competitive edge that American Electric would contribute to T&B. Founded in 1958, American Electric had undergone a series of transformations and buyouts.

The company changed its name to Thomas & Betts Corporation in 1968.

After J. David Parkinson--former head of the company's electrical business--succeeded MacDonald as CEO in 1974, electronic product development was stepped up yet again.

By 1983, a Luxembourg facility had been established to produce electronic connectors for even broader European markets.

After becoming the nation's largest street light manufacturer, American Electric was sold to Forstmann Little & Co., a leveraged buyout firm, in June 1985.

Starting in 1987, the firm launched its Total Quality Excellence (TQE) program, involving all employees in an ongoing effort to improve product quality and reduce costs.

On January 2, 1992, T&B acquired FL Industries Holdings, Inc., known in the electrical industry as American Electric, a firm with annual revenues of nearly $500 million.

On January 1, 1994, Clyde R. Moore became president and COO. He brought to the post experience as previous president of Thomas & Betts electrical division and president of American Electric before the acquisition.

Merger, restructuring, and other charges totaling $97.1 million were taken in the fourth quarter of 1996, resulting in a net earnings total for the year of just $59.9 million.

In May 1997 Moore took over as CEO of Thomas & Betts, with Dunnigan remaining chairman.

In January 1999 T&B reached an agreement to acquire AFC Cable Systems Inc. for $504 million.

In May 2000 Moore replaced Dunnigan as company chairman, but only three months later Moore resigned, and Dunnigan was called back to become chairman and CEO once again.