Profile: National Presto Industries Inc (NPK.N)
3 Dec 2013
National Presto Industries, Inc. (National Presto) operates through three business segments: Housewares/Small Appliance Segment, Defense Products Segment and Absorbent Products Segment. The Housewares/Small Appliance segment designs, markets and distributes housewares and small electrical appliances, including pressure cookers and canners, kitchen electrics, and comfort appliances. The Defense Products segment manufactures 40 millimeter ammunition, precision mechanical and electro-mechanical assemblies, medium caliber cartridge cases, performs Load, Assemble and Pack (LAP) operations on ordnance-related products primarily for the United States Government and prime contractors, produces and sells a range of less-lethal products and support accessories, and provides training for the use of less-lethal products. The Absorbent Products segment manufactures and sells primarily private label adult incontinence products and diapers. On November 1, 2011, the Company purchased the assets of ALS Technologies, Inc., a small Arkansas manufacturer of less than lethal ammunition.
Housewares/Small Appliance Segment
The Housewares and electrical appliances sold by the Company include pressure cookers and canners; the Presto Control Master heat control single thermostatic control line of skillets in several sizes, griddles, woks and multi-purpose cookers; deep fryers of various sizes; waffle makers; pizza ovens; slicer/shredders; electric heaters; corn poppers (hot air and microwave); rice cookers; microwave bacon cookers; coffeemakers and coffeemaker accessories; electric tea kettles; electric knife sharpeners; shoe polishers, and timers. Pressure cookers and canners are available in various sizes and are fabricated of aluminum and, in the case of cookers, of stainless steel, as well.
During the year ended December 31, 2011, approximately 12% of consolidated net sales were provided by cast products (griddles, waffle makers, die cast deep fryers, skillets and multi-cookers), and approximately 18% by noncast/thermal appliances (stamped cookers and canners, pizza ovens, corn poppers, coffee makers, microwave bacon cookers, rice cookers, tea kettles, electric stainless steel appliances, non-cast fryers and heaters). Products are sold primarily in the United States and Canada directly to retailers and also through independent distributors. The Company primarily warehouses and distributes its products from distribution centers located in Canton and Jackson, Mississippi. Selective use is made of leased tractors and trailers.
Defense Products Segment
AMTEC Corporation, the Company’s subsidiary, manufactures 40 millimeters ammunition, and precision mechanical and electro-mechanical products for the United States Department of Defense (DOD) and DOD prime contractors. AMTEC’s 725,000 square-foot manufacturing facility, located in Janesville, Wisconsin, is focused on producing products, such as training ammunition, fuzes, firing devices and initiators. It is also a prime contractor for the 40 millimeters System program. Spectra Technologies LLC, a subsidiary of AMTEC Corporation, is engaged in the manufacture and delivery of munitions and ordnance-related products for the DOD and DOD prime contractors. Spectra maintain 294,000 square feet of space located in East Camden, Arkansas. Amron, a division of AMTEC Corporation, manufactures cartridge cases used in medium caliber ammunition (20 millimeters, 25 millimeters, 30 millimeters and 40 millimeters) primarily for the DOD and DOD prime contractors, which includes the 40 millimeters systems program. The Amron manufacturing facility is 208,000 square feet and is located in Antigo, Wisconsin. AMTEC Less Lethal Systems, Inc., a subsidiary of AMTEC Corporation. AMTEC Less Lethal Systems, Inc. products include smoke and tear gas grenades, specialty impact munitions, diversionary devices and stun munitions, support accessories like launchers and gas masks, as well as training for the use of its products. The subsidiary’s manufacturing facility is 15,000 square feet and is located in Bull Shoals, Arkansas.
Absorbent Products Segment
The Company through NCN Hygienic Products, Inc., a Marietta, Georgia company manufactured adult incontinence products and pads for dogs, which were likewise primarily private label products. It focuses on private label, although branded product is produced under the PRESTO label.
National Presto Industries Inc
3925 North Hastings Way
EAU CLAIRE WI 54703