Graco (fluid handling)

Graco is an American industrial company specializing in the development and manufacturing of fluid-handling systems and products. The company is headquartered in Minneapolis, Minnesota and markets its products to customers worldwide.[3]

Not to be confused with Graco (baby products).
Graco Inc.
TypePublic
NYSE: GGG
S&P 400 Component
Founded1926
FounderRussell Gray
Headquarters(Northeast, Minneapolis),
Minneapolis, Minnesota
,
United States
Area served
Worldwide
Key people
Mark W. Sheahan, President and CEO[1]
ProductsFluid and Powder Handling Equipment
Revenue$1.65 Billion (2019) Decrease0.4%[2]
$424 Million (2019)Decrease2.7%[2]
$344 Million (2019)Increase0.8%[2]
Number of employees
3700[2]
DivisionsContractor, Industrial, Process[2]
Websitewww.graco.com

History

Russell Gray, a Minneapolis parking lot attendant, founded Gray Company, Inc. in 1926 with his brother Leil Gray to produce and sell Russell's air-powered grease gun, invented in response to cold weather making hand-powered grease guns inoperable.[3] Sales their first year of operation were $35,000.[3]

By 1941, annual sales had reached $1 million.[3] They capitalized on opportunities in defense-based lubricating needs during World War II. After World War II, Graco began expanding outside of lubricant handling, developing a paint pump and direct-from-drum industrial fluids pumps.

By the mid-1950s they had expanded to $5 million in sales and 400 employees, and were servicing fluid handling needs in a wide variety of industries.[3]

Leil Gray died in 1958, and was succeeded as president by Harry A. Murphy.[3] He was succeeded in turn by David A Koch in 1962.[3] The company continued to expand, helped by the 1957 introduction of the airless spray gun. By 1969, when Gray Company went public and changed its name to Graco, it had annual sales of $33 million.[3]

After acquiring H. G. Fischer & Co, a manufacturer of electrostatic finishing products, sales continued to climb, reflecting an industry-wide shift in automobile painting from air-based to electrostatic technologies.[3] By 1979, sales had climbed to $100 million.[3]

In 1981, Graco started a joint-venture called Graco Robotics, Inc. (GRI) with Edon Finishing Systems.[3]

Divisions

Contractor Equipment Division

Graco currently has airless sprayers, line striping units, fine finish equipment, texture sprayers, roof coating rigs, and pressure washers on the Contractor Equipment Division (CED).[4]

Lubrication Equipment Division

In the Lubrication Equipment Division (LED), Graco produces automatic lubrication equipment, vehicle lubrication maintenance and repair equipment, and a variety of activators and switches for the lubrication process.[5]

Industrial Products Division

In Graco's Industrial Products Division (IPD), there are a wide range of pneumatic, hydraulic, and electric pumps created to withstand tough finishing applications. IPD also has different fine-finish pump packages which can spray with air, assisted by air, or airless.[6]

Markets served

Graco serves a wide variety of markets, including painting, anti-corrosion, fluid transfer, gluing and sanitary applications, automotive, aeronautic, body refinish, wood, building and construction, and marine.[7] They distribute through a global network of equipment dealers and retail stores.[8]

References
  1. "Mark Sheahan | Global Officers | Graco".
  2. "Graco Inc. 2019 Overview and Annual Report on Form 10-K". 2020-09-02.
  3. "Graco Inc".
  4. "Graco Products & Support for Contractors". www.graco.com.
  5. "Lubrication Equipment for Machinery and Vehicles | Graco". www.graco.com. Retrieved 2016-12-09.
  6. "Graco Inc.-Industrial Products Division". Products Finishing. Retrieved 2016-12-09.
  7. "Home". contractorclub.eu.
  8. "GGG - Graco Inc. Profile | Reuters". Reuters.


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