Profile: Franklin Electric Co Inc (FELE.OQ)
21 Nov 2014
Franklin Electric Co., Inc. (Franklin Electric), incorporated on November 12, 1946, together with its subsidiaries, is engaged in designing, manufacturing and distributing water and fuel pumping systems, consists of submersible motors, pumps, electronic controls and related parts and equipment. The Company’s business consists of two segments: the Water Systems segment and the Fueling Systems segment. The Company includes unallocated corporate expenses in another segment that together with Water Systems and Fueling Systems represent the Company. The Company’s products are sold in North America, Europe, the Middle East, South Africa, Brazil, Mexico, Australia, Japan, China, and other world markets. In September 2013, the Company announced that its subsidiary Pioneer Pump Solutions Ltd., has completed the purchase of the assets of Performance Pump and Equipment Company Limited of Stowmarket, Suffolk, the United Kingdom. In June 2014, it acquired Bombas Leao S.A. In August 2014, Franklin Electric Co Inc acquired 70% of Pluga Pumps and Motors Pvt Ltd.
Water Systems Segment
Water Systems is engaged in the production and marketing of groundwater pumping systems and is also engaged in submersible pumps and motors, drives, electronic controls, and monitoring devices. The Water Systems segment designs, manufactures and sells motors, pumps, electronic controls and related parts and equipment for use in submersible water and other fluid system applications. Water Systems motors and pumps are used in submersible applications for pumping fresh water, wastewater, and other liquids in a variety of residential, agricultural, and industrial applications, off-shore drilling, and mining. Water System also manufactures electronic drives and controls for the motors which control functionality and provide protection from various hazards, such as electric surges, over-heating, or dry wells and tanks.
The Company competes with Grundfos Management A/S, Pentair, Inc., and Xylem, Inc.
Fueling Systems segment
Fueling Systems segment is engaged in the production and marketing of fuel pumping systems, fuel containment systems, and monitoring and control systems. This segment designs, manufactures and sells pumps, pipe, sumps, fittings, vapor recovery components, electronic controls, monitoring devices and related parts and equipment primarily for use in submersible fueling system applications. It also integrates and sells motors and electronic controls produced by the Water Systems segment.
The Company competes with Danaher Corporation and Dover Corporation.
Franklin Electric Co Inc
9255 Coverdale Road
FORT WAYNE IN 46809