Date: Fri, 21 Nov 1997 00:20:05 GMT Server: Apache/1.2.4 Last-Modified: Mon, 20 Oct 1997 16:10:36 GMT ETag: "bd69e-14a3-344b827c" Content-Length: 5283 Accept-Ranges: bytes Connection: close Content-Type: text/html
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Coltec Today We're a leading manufacturer of highly engineered products for aerospace and other industrial markets. In the markets we serve, Coltec is regarded as one of the premiere manufacturing companies. We employ approximately 8,100 and annual sales are approximately $1.2 billion. We operate facilities in eleven countries around the world, with manufacturing concentrated in the United States and Canada. Our philosophy always has been to operate a highly decentralized company that puts real decision-making authority on the manufacturing floor. We believe that the people closest to the manufacturing process are in the best position to make critical decisions. A Brief History Our manufacturing tradition dates back to the 19th century when many of our operating units already were building a wide range of products, including large engines, industrial sealing products and windmills. Even then, we produced technically superior products that could command premium margins. | ||||||
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The name was changed again in 1959 to the Fairbanks Whitney Corporation, following the merger with Fairbanks Morse and Co., and in 1964 to Colt Industries. At that time the strategy of achieving leading market positions, maintaining technological leadership, building close customer relationships and sustaining superior operating profits was implemented. In 1990, the name was changed to Coltec Industries, reflecting the sale of the firearms business. In 1996, we divested the automotive operations and restructured the company to focus on opportunities for growth in the aerospace and industrial operations. At this time, we moved our corporate headquarters to Charlotte, North Carolina where it has a significantly reduced cost structure and provides easier access to our operations and our customers. For more information on the restructuring, see our quarterly reports. | |||||||
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