National Presto Industries
|Traded as||NYSE: NPK|
S&P 600 Component
|Headquarters||Eau Claire, Wisconsin, United States|
|Maryjo Cohen (President and CEO)|
|Products||Small Kitchen appliances, Ammunition, and Absorbent Products|
National Presto Industries is a company founded in 1905 in Eau Claire, Wisconsin in the small kitchen appliances industry. Originally called the "Northwestern Steel and Iron Works" and then becoming the "National Pressure Cooker Company" in 1917, the company produced pressure canners. Beginning in 1939, National Presto Industries introduced small home-use cooking appliances. The company was admitted to the New York Stock Exchange on March 3, 1969.
The company is divided into three business segments (divisions), Housewares/Small Appliance; Defense; and Absorbent Products. The Housewares/Small Appliance segment "designs and sells small household appliances", including pressure cookers, under the Presto brand. The Defense segment produces ordnance and ammunition products. The Absorbent Products segment "is primarily engaged in the manufacture of private label adult incontinence products."
Having previously divested itself of almost all operations and having closed its defense operations in 1992, the company was a small household appliance seller. In 2001, with the purchase of AMTEC, the company returned to the defense business. In Nov 2005, Presto lost a fight with the U.S. Securities and Exchange Commission over investment status. A Federal Court judge ruled that Presto was an "inadvertent" investment company because of its huge cash holdings. During the first three quarters of 2009, National Presto obtained more than $650,000,000 in contracts with the U.S. government for ammunition. Also in 2001, the company acquired RMED International and created its Absorbent Products division.
- "National Presto Industries, Inc. Announces Increased Second Quarter 2010 Sales and Earnings". National Presto Industries, Inc. July 30, 2010. Retrieved August 22, 2010.
- Condon, Bernard (November 16, 2009). "National Presto (Finally) Opens Its Wallet". Forbes Magazine. Retrieved August 22, 2010.
- "Presto loses fight with SEC over investment status" (PDF).
|This United States manufacturing company–related article is a stub. You can help Wikipedia by expanding it.|