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Teel Plastics company history timeline

1951

United States Pipe's youngest plant dated to 1951.

In 1951, Teel Plastics, Inc. was established as Insemikit Co.

1953

In 1953, the company abandoned its historic headquarters in Burlington, New Jersey, and moved its offices to the heart of the iron industry, Birmingham, Alabama.

1958

In 1958, the company changed its name to Teel Plastics, Inc. to reflect its new focus on the manufacture of plastic products.

1960

Company was established in 1960, manufacturing Carbon Steel Pipe and Conduit Pipe.

These sold well, especially in the South, and by 1960 Jim Walter was a nationally known businessman.

1961

In 1961, it increased its holdings in Alabama by acquiring the T.C. King Pipe and Fittings Company, of Anniston, Alabama.

1962

In 1962, Frank Gorham acquired Barry Pipe and Equipment and changed the name to Cal-Sierra Pipe.

Jim Walter Corp. began a rapid expansion in 1962, buying up a fiberboard manufacturer, Celotex Corp.

1964

The Company moved to its’ current location at Highway 99 and Mariposa Road in Stockton in 1964 to better serve our customers and facilitate the expansion of the Company’s services and its inventory of products.

1966

In 1966, United States Pipe made another significant acquisition, this time on the East Coast, when it bought an East Orange, New Jersey, manufacturer of valves, hydrants, and related parts called the A.P. Smith Manufacturing Company.

1967

First Korean Company to export Carbon Steel Pipe into the US Market in 1967.

1969

In 1969 SeAH became public by being listed in Korean Stock exchange.

Since 1969, the company has been wholly owned by Walter Industries, Inc., formerly known as the Jim Walters Corp.

1972

The city of Atlanta complained that United States Pipe and another Alabama pipe company had conspired to fix prices on municipal contracts dating back to 1972.

1980

Walter Corp. also moved into the aluminum industry in 1980.

1982

In 1982, Larry Gorham purchased the business from his father.

1987

Jim Walter Corp. fit the pattern, and in 1987 it was taken private by one of the best-known takeover groups, Kohlberg Kravis Roberts (KKR). The deal, valued at $2.4 billion, was a small one for KKR. The year before, it had raised $8.7 billion to buy out Beatrice Foods.

1988

In 1988, it made the record-breaking $25 billion buyout of RJR Nabisco, a deal so momentous it inspired not only a book but a movie, Barbarians at the Gate.

1989

Company documents claim Jim Walter Corp. was still a profitable company, but in 1989 it filed for bankruptcy, brought down by a huge class action lawsuit relating to the company's former Celotex subsidiary.

1991

Parent company Jim Walter Corp. changed its name to Walter Industries, Inc. in 1991.

1992

In 1992, the company embarked on developing and manufacturing fiberglass thermoset profiles to meet the needs of the utility, lawn and garden, and fenestration industry through creation of its Pultrusion Division.

1997

In 1997, Walter Industries became a public company again, traded on the New York Stock Exchange.

For 1997, revenue at United States Pipe stood at $420 million, a little higher than a decade earlier.

1999

In 1999, Jay Smith and his two children, Jason Smith and Brynna London, acquired Teel Plastics.

2000

In 2000, United States Pipe spent some $20 million to upgrade its Chattanooga plant.

2003

Sales at the company's United States Castings division, which ran out of the company's Anniston plant, were so poor that United States Pipe was forced to close the plant completely in 2003.

2006

In 2006, Teel launched an initiative to transform the culture and expand lean enterprise thinking.

2007

In 2007, Teel held an opening ceremony for its newly completed 150,000 sq. ft. headquarters and state of the art manufacturing location in Baraboo.

2011

Larry was replaced as president by Steve Dunn who joined the company in 2011.

2012

In 2012, Teel sold its Pultrusion Division to Razor Composites, LLC. Razor Composites is owned by James Hardie Industries, a $1.25 billion dollar international fiber cement building products company.

2013

In 2013, Teel Analytical Laboratories, a division of Teel, received accreditation to the ISO 17025 standard for analytical laboratories and began offering its services to customers.

2017

In 2017, Teel added injection molding services with the purchase of multiple Arburg injection molding machines, complementing its extrusion operation and adding new products.

2020

In 2020, Teel was acquired by MPE Partners, a private equity firm, and became an LLC. Jay Smith remained as chairman of the board.

Also in 2020, Teel’s injection molding services received local and national media attention in the midst of the COVID-19 pandemic for producing swab stick handles used in COVID-19 test kits.

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Founded
1951
Company founded
Headquarters
Baraboo, WI
Company headquarter
Founders
Jay Smith,Karen Tuleta
Company founders
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Teel Plastics may also be known as or be related to Teel Pipe LLC, Teel Plastics and Teel Plastics, Inc.