Haynes International

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Haynes International, Inc.
Public company
Traded asNASDAQHAYN
S&P 600 Component
IndustryMetal
Founded1912; 107 years ago (1912)
FounderElwood Haynes
HeadquartersKokomo, Indiana
Key people
Mike Shor, President & CEO
ProductsCorrosion-Resistant Alloys
High-Temperature Alloys
Production output
18.4 million pounds (2018)
RevenueIncrease $435 million (FY 2018)
Decrease -$21 million (FY 2018)
Total assetsDecrease $588 million (FY 2018)
Total equityDecrease $333 million (FY 2018)
Number of employees
1,157 (2018)
Websitewww.haynesintl.com
Footnotes / references
[1]
Three check valves in corrosion-resistant Hastelloy

Haynes International, Inc., headquartered in Kokomo, Indiana, is one of the largest producers of corrosion-resistant and high-temperature alloys. In addition to Kokomo, Haynes has manufacturing facilities in Arcadia, Louisiana, and Mountain Home, North Carolina. The Kokomo facility specializes in flat products, the Arcadia facility in tubular products, and the Mountain Home facility in wire products.[1] In fiscal year 2018, the company's revenues were derived from the aerospace (52.1%), chemical processing (18.2%), industrial gas turbine (12.0%) and other (12.3%) industries. The company's alloys are primarily marketed under the Hastelloy and the Haynes brands. They are based on nickel, but also include cobalt, chromium, molybdenum, tungsten, iron, silicon, manganese, carbon, aluminum, and/or titanium.[2]

History[edit]

The company was founded by Elwood Haynes in 1912 in Kokomo, Indiana, as Haynes Stellite Works.[1] Haynes had recently received a patent for a metal he created, which he named Stellite.[3]

In 1920, the company was acquired by Union Carbide.[3]

In 1922, the company invented its first alloy under the Hastelloy brand, derived from the words "Haynes Stellite Alloy".[3]

In 1927, Charles Lindberg's aircraft, the Spirit of St. Louis, which included hard-surfaced engine valves manufactured by Haynes, crossed the Atlantic Ocean.[3]

In 1970, Cabot Corporation purchased the company.[3]

In 1989, the investment banking firm of Morgan, Lewis, Githens, and Ahn purchased the company.[3]

In 1997, the Blackstone Group purchased the company.[3] The debt incurred ultimately forced Haynes into bankruptcy in March 2004, from which it emerged 5 months later in August 2004.[1]

In 1999, the company opened an office in Singapore, its first sales office in Asia.[3]

In 2004, the company acquired Branford Wire & Manufacturing of Mountain Home, North Carolina.[3][4]

In March 2007, Haynes became a public company via an initial public offering.[5][6]

The space shuttle program, which ended in 2011, used total of 47 parts made from Haynes 188 alloy and 7 from Haynes' Hastelloy B alloy in its engines. Hastelloy C-22 alloy was used for the fuel line bellows that assisted in achieving takeoff.[3]

In 2015, the company acquired Leveltek Processing.[7]

In 2016, the company expanded its operations in LaPorte, Indiana.[8] The expansion created 52 jobs.[9]

In 2018, chairman Michael Shor became President and chief executive officer of the company.[10][11]

References[edit]

  1. ^ a b c d "Haynes International, Inc. 2018 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ "Haynes International: Alloy Portfolio". Haynes International.
  3. ^ a b c d e f g h i j "Haynes International: Our Milestones". Haynes International.
  4. ^ "Haynes Announces Acquisition of Branford Wire & Manufacturing" (Press release). Business Wire. November 8, 2004.
  5. ^ "Haynes prices $136.5 million IPO at $65 a share". Reuters. March 19, 2007.
  6. ^ Daniel, Robert (March 20, 2007). "Haynes Int'l prices IPO of 2.1 million shares at $65". Marketwatch.
  7. ^ "Haynes International, Inc. Agrees to Purchase Assets and Operations of Leveltek Processing, LLC in LaPorte, Indiana" (Press release). Globe Newswire. October 21, 2014.
  8. ^ "Haynes International, Inc. Announces Expansion of LaPorte, IN Operations" (Press release). Globe Newswire. May 2, 2016.
  9. ^ Gard, Jon (July 25, 2017). "Haynes expansion manufactures 52 jobs". La Porte Herald-Argus.
  10. ^ "Haynes International, Inc. Announces Leadership Change" (Press release). Globe Newswire. May 29, 2018.
  11. ^ "Haynes International, Inc. Announces Appointment of President and Chief Executive Officer" (Press release). Globe Newswire. September 4, 2018.

External links[edit]