McGraw-Edison
| Company type | Public |
|---|---|
| Industry | Electrical equipment manufacturing |
| Founded | 1957 |
| Founder | Max McGraw, Charles Edison (through merger) |
| Defunct | 1985 |
| Fate | Acquired by Cooper Industries |
| Headquarters | United States |
Key people | Charles Edison (chairman until 1961), Max McGraw (chief operating officer, chairman executive committee), Al Bersted (president from 1959) |
| Products | Electrical equipment, household appliances (historically) |
Number of employees | 21,000 (1985) |
McGraw-Edison was a U.S.-based manufacturer specializing in electrical equipment, established in 1957 through the consolidation of McGraw Electric and Thomas A. Edison, Inc.. In 1985, it was purchased by Cooper Industries, and since 1996, the McGraw-Edison name has been maintained by Pennsylvania Transformer Technologies Inc., which concentrates on lighting solutions for industrial, commercial, and institutional sectors.
Origins
Founded in 1900 by businessman Max McGraw in Sioux City, Iowa, McGraw Electric began by wiring residential properties before broadening its scope to serve industrial and commercial clients. The company expanded via acquisitions and transitioned into manufacturing electrical products. In 1952, it merged with Pennsylvania Transformer Company but continued operating under the McGraw Electric brand.
Originating from Edison Manufacturing Co., Thomas A. Edison, Inc. was created in 1910 and initially produced phonographs before diversifying into radios and dictation devices. Leadership was held by Charles Edison, son of the founder, who served as president from 1927 until the 1957 merger with McGraw Electric.
History
The union of the two companies in 1957 formed McGraw-Edison Co., with Charles Edison serving as chairman of the board until 1961 and Max McGraw taking on the role of chief operating officer. That same year, McGraw-Edison acquired Griswold Manufacturing but soon divested its housewares segment.
In 1959, Al Bersted assumed the presidency to manage day-to-day operations while Max McGraw chaired the executive committee. The company further expanded by purchasing General Electric’s power-tool division in 1969 and acquiring G.W. Murphy Industries in 1972.
A major expansion occurred in September 1979 when McGraw-Edison acquired Studebaker-Worthington—an entity formed from a previous merger between Studebaker and Worthington Corporation—resulting in more than doubling its size. Concurrently, McGraw-Edison sold its appliance division, including the Speed Queen brand, to Raytheon Company; this segment is currently part of Alliance Laundry Systems.
During the early 1980s, McGraw-Edison underwent additional restructuring: it sold its food service equipment business to Bastian-Blessing (which later merged with Nytronics) in June 1980 and divested its power tool division to Shopsmith, Inc. in September of the same year.
From 1958 through 1980, a variety of household appliances such as air conditioners, heaters, humidifiers, hair dryers, and toasters were produced at its expansive 24-acre facility located in Calhoun County, Michigan. Environmental concerns arose when trichloroethylene (TCE) contamination from waste disposal was detected in local groundwater by 1980, prompting a state-mandated remediation agreement that was finalized in 1984.
At the point of acquisition by Cooper Industries in 1985, McGraw-Edison employed roughly 21,000 personnel across 118 facilities worldwide. Cooper Industries took over responsibility for environmental cleanup at the Michigan site, with remediation efforts continuing effectively as reported through at least 2004.