Worthington Corporation

Worthington Corporation

Company type	Public
Industry	Manufacturing, Hydraulic machinery, Pumps, Compressors
Predecessor	Worthington and Baker
Founded	1845 (1845)
Founder	Henry Rossiter Worthington, William H. Baker
Defunct	1967 (1967)
Fate	Merged with Studebaker and Wagner Electric to form Studebaker-Worthington
Headquarters	Harrison, New Jersey , United States
Area served	United States, British and Colonial markets
Key people	Henry Rossiter Worthington, Charles Campbell Worthington, Benjamin Guggenheim, Frank J. Nunlist, Randolph Guthrie
Products	Pumps, compressors, hydraulic machinery
Number of employees	~10,000 (at peak under ISPC)
Parent	International Steam Pump Company (1899–1916), later independent until merger in 1967

The Worthington Corporation traces its origins to Worthington and Baker, a steam pump manufacturing firm established in 1845 by Henry Rossiter Worthington and William H. Baker. Henry Worthington's invention of the direct-acting steam pump gave the company an early edge in hydraulic machinery. Initially, the foundry operated near the Brooklyn Navy Yard before relocating in 1854 to Van Brunt Street, Brooklyn. Following Baker’s death around 1860, Worthington reorganized the enterprise under the name Henry R. Worthington or Worthington Hydraulic Pump Works in 1862.

During the American Civil War, Worthington pumps were utilized by the United States Navy on vessels like the USS Monitor for functions including boiler feed water, bilge pumping, firefighting, and general utility. After Henry Worthington passed away in 1880, his son Charles Campbell Worthington assumed control, spearheading advancements in pumps and compressors. To accommodate growing operations, the company moved to Harrison, New Jersey in 1904.

In 1885, the Worthington Pumping Engine Company received a major contract from the British Army for high-pressure pumps intended for use in the Nile Expedition supporting General Gordon in Sudan. When British manufacturer James Simpson & Co. could not fulfill demand alone, it entered a partnership with Worthington on 13 December 1885, securing exclusive rights to manufacture Worthington pumps within Britain. This collaboration significantly broadened Worthington’s reach across British and Colonial markets. In 1903, James Simpson merged with the London-based Worthington Pumping Engine Company to create the Worthington Pump Co., enhancing global operations while the American parent company remained autonomous.

In 1967, Worthington Corporation combined forces with Studebaker and Wagner Electric to form Studebaker-Worthington, which was subsequently acquired by McGraw-Edison in 1979.

International Steam Pump Company (1899–1916)

The International Steam Pump Company (ISPC) was founded in 1899 by Benjamin Guggenheim, whose family had amassed wealth through smelting operations associated with the American Smelting and Refining Company. The Seward law firm organized ISPC with financial backing from Lehman Brothers.

ISPC brought together Blake and Knowles Steam Pump Works, Ltd. (BKSPW), Worthington Pump Works, and several other leading steam pump manufacturers, thereby controlling a large portion of the U.S. steam pump market. Among its product offerings were elevators installed in the Eiffel Tower. The largest constituent of this merger was Worthington Pump Works, initially led by Charles Campbell Worthington until Guggenheim assumed presidency of ISPC in 1900. Despite initial expansion, ISPC encountered financial difficulties requiring Guggenheim to provide additional funding.

BKSPW was incorporated in England in 1890 with capital of £300,000 to acquire George F. Blake Manufacturing and Knowles Steam Pump Works; it operated three plants within the United States. By 1901, ISPC owned £200,000 worth of BKSPW shares; its subsidiary George F. Blake Manufacturing held $1 million in mortgage bonds and $500,000 in BKSPW preferred stock. BKSPW was dissolved in 1903 and reconstituted in New Jersey. By 1908, Blake-Knowles Steam Pump Works based in Cambridge employed over 1,700 people, ranking as the second-largest U.S. manufacturer.

Guggenheim expanded ISPC’s footprint by establishing a Milwaukee factory focused on mining machinery production in 1903; this facility was integrated fully into ISPC by 1906. By 1909, ISPC’s workforce numbered approximately 10,000 employees. In 1910, Guggenheim reported robust financial results with net income approaching $2 million and profits near $700,000. Key acquisitions during this period included Jeanesville Iron Works and a controlling stake in Denver Rock Drill and Machinery Company, increasing production capacity by at least 30%. The Holly Manufacturing Company was added to ISPC’s portfolio in 1912.

Following Guggenheim’s death aboard the RMS Titanic in April 1912, ISPC entered receivership two years later. A restructuring plan culminated in the formation of Worthington Pump & Machinery Corporation in 1916.

Worthington Pump and Machinery Corporation (1916–1952)

Worthington Pump and Machinery Corporation managed branches in Atlanta, Georgia, Buffalo, New York, Holyoke, Massachusetts, Cincinnati, Ohio, and London, England. In 1917, its British operation adopted the name Worthington Simpson, with Worthington acquiring ownership interest in 1933.

Worthington Corporation (1952–1967)

The company was renamed Worthington Corporation in 1952. By 1956, it operated research centers located in Harrison, Holyoke, and Buffalo. These labs employed experts in fields such as chemistry, engineering, metallurgy, physics, and mathematics to drive progress in hydrodynamics, thermodynamics, mechanics, and materials science. Worthington broadened its industrial scope in 1964 through the acquisition of the American Locomotive Company (Alco).

Merger with Studebaker (1967)

In 1967, businessman Derald Ruttenberg facilitated a merger between Worthington and Studebaker. Although Studebaker carried liabilities including dealer warranty obligations and union agreements, Ruttenberg identified valuable assets within subsidiaries like Onan generators and STP engine additives, as well as significant tax loss advantages. The merger underwent review for potential antitrust issues but ultimately received shareholder endorsement.

After Wagner Electric acquired Studebaker, it combined operations with Worthington to create Studebaker-Worthington in November 1967. This newly formed company possessed assets totaling $550 million. Frank J. Nunlist, formerly chairman of Worthington, assumed the roles of president and CEO, while Randolph Guthrie from Studebaker became chairman.

Studebaker-Worthington was purchased by McGraw-Edison in 1978; subsequently, McGraw-Edison was acquired by Cooper Industries in 1985.

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External links

• Worthington Compressor Services, OEM and parts company formed as a legacy spin-off in 2012