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Company
History
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1942 - 1979 || 1980 - 1990 || 1991
- 1996 || 1997 -1999|| 2000
- present |
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K.A. Swanstrom, formerly president of Elastic Stop Nut Corporation, leaves
company and establishes Penn Engineering & Manufacturing Corp.
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K.A. Swanstrom obtains license from RCA for a new type of clinch nut, which
was screw machined from square stock. Improving substantially on the original
RCA patent, Penn Engineering develops its first product, the original "S"
nut which was screw machined from round stock. Later that year, a cold-headed
clinch nut was developed, and the "CL" type was born.
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Purchase of 15 acres in Danboro, PA for construction of 10,800 sq. ft. manufacturing
plant.
Company officially registers "PEM" and "Triangle" as trademarks, even though
they were in use since 1946.
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Company officially registers its stock on the Over-The-Counter Exchange
(NASDAQ) with the symbol PNN, and application and admission to the American
Stock Exchange was approved.
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PEMSERTER Series 1 press is introduced.
Penn Engineering acquires Pittman Company of Sellersville, PA, a manufacturer
of miniature dc motors. Expansion of Danboro facility continues.
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PEM International Ltd., a subsidiary of Penn Engineering & Manufacturing
Corp., is established as a U.K. distributor in Doncaster, England.
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Pittman moves to new 30,000 sq. ft. facility in Harleysville ,
PA.
Major expansions take place at Danboro, Harleysville, and Winston-Salem
plants.
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J.H. Foote, president since 1976, retires. Ken Swanstrom elected president.
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1942 - 1979 || 1980
- 1990 || 1991 - 1996 || 1997
-1999 || 2000 - present |
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