When was graco founded

The addition of the new division set Gray Company on a course that would take us far beyond our roots of niche market manufacturer. As full-scale consumerism propelled the U. Meanwhile, as our core business continued to thrive, we introduced the first airless paint sprayer in , an advancement that made Gray Company a market leader in paint spraying industries. Searching for new property to house expanding operations, in we bought the Hanna properties along the Mississippi River, which later became corporate headquarters.

The company acted quickly to create an infrastructure to manage worldwide growth, forming the first export department in , followed by the first international sales division with subsidiaries in Europe, Asia, South America and Canada. Toward the end of the s we officially changed our name to Graco Inc. We also went through a leadership change when David A. This growth was achieved by solidifying our position in existing markets and entering new ones. We acquired Chicago-based H.

Graco also authorised a three-for-two stock split in , the first in our history. Over the years we would split it 11 more times! During the s, Graco had more products in development than at any time in our history.

We reorganised into operational divisions to more effectively focus on major market opportunities. In , we introduced more successful new products than any other year, particularly in sealant and adhesive applications as the electronics market grew.

In the age of information of the s, Graco took advantage of emerging technology by incorporating state-of-the-art electronics in our sprayers and providing manufacturers with the capability to programme functions into proportioning equipment, which made it easier to change materials and monitor usage.

The addition of the new division set Gray Company on a course that would take us far beyond our roots of niche market manufacturer. As full-scale consumerism propelled the U. Meanwhile, as our core business continued to thrive, we introduced the first airless paint sprayer in , an advancement that made Gray Company a market leader in paint spraying industries. Searching for new property to house expanding operations, in , we bought the Hanna properties along the Mississippi River, which later became corporate headquarters.

The company acted quickly to create an infrastructure to manage worldwide growth, forming the first export department in , followed by the first international sales division with subsidiaries in Europe, Asia, South America and Canada. Toward the end of the s we officially changed our name to Graco Inc. We also went through a leadership change when David A. This growth was achieved by solidifying our position in existing markets and entering new ones.

We acquired Chicago-based H. Graco also authorized a three-for-two stock split in , the first in our history. Over the years we would split it 11 more times! During the s, Graco had more products in development than at any time in our history.

We reorganized into operational divisions to more effectively focus on major market opportunities. In , we introduced more successful new products than any other year—particularly in sealant and adhesive applications as the electronics market grew. In the age of information of the s, Graco took advantage of emerging technology by incorporating state-of-the-art electronics in our sprayers and providing manufacturers with the capability to program functions into proportioning equipment, which made it easier to change materials and monitor usage.

Graco traces its history to Gray Company, Inc. The men, who worked in a downtown Minneapolis garage, found hand-operated grease guns cumbersome to use, especially in the winter months when lubricants were more difficult to move. After field tests showed their invention was easier to handle and more effective than the hand-operated devices, the brothers hired three employees and began manufacturing "Graco" air-powered grease guns. Within two years, the men added other products to the Graco line, such as an air-powered pumping unit that moved automotive fluids directly from shipping containers through a flexible hose to the service area.

The company also began a nationwide marketing program directed primarily to car dealers and service station owners. The company continued to grow even during the Great Depression years, and in the business moved into a new plant, where Russell Gray further expanded the product line.

Leil Gray, as company president, accelerated marketing and sales efforts; a branch office opened in New York, and salesmen carried Graco products in trailers bearing the company insignia. During World War II, Gray Company designed mobile lubrication equipment for use on the battlefield, while a tire retreading system helped extend limited resources at home.

After the war the company turned its attention to industrial uses of the pumping technology it had been developing over the years. Spraying units, finishing equipment, and dispensing systems were designed for uses ranging from spreading adhesives to handling food.

Driven by the needs of its customers, Gray Company continued to play the role of innovator. The company was the first to use hydraulics for cleaning, and the first to develop cold airless atomization a process that used pressure to separate liquid into fine particles for spray painting and coating. The company also began to design automated systems for manufacturing plants and implement plans for international operations.

In Leil Gray died, and Harry A. Murphy, Sr. That same year, Gray Company introduced Hydra-Spray, the first airless paint spray unit, and airless-spray technology propelled the company's growth in the s.

In Gray Company developed an electrically powered airless-spray system that freed painting contractors from bulky compressors. The company also introduced equipment that permitted hot airless pumping, proportionate mixing, and automatically controlled dispensing of fluids. In Leil Gray's son-in-law David A. Koch was named president, succeeding Murphy. In the early years of his tenure, Koch guided the company through a plant modernization program and an important period of growth.

In , Gray Company, Inc. International expansion moved forward with the purchase of a majority interest in French automobile servicing equipment and products manufacturer Fogautolube S. Domestically, Graco purchased Chicago-based H. The company experienced an annual growth rate of 17 percent in sales and about 20 percent in net earnings over the ten-year period from to Graco's rapid growth faltered in Financial analyst Ken Johnson, in a Corporate Report article, suggested that Graco was surprised by a weakening market that had been disguised by customer purchases made in response to rapidly rising raw material prices.

Net sales for rose only 6. The slide continued in with a significant drop in revenues. Nevertheless, Graco rebounded in Pumps and spray-painting equipment for the construction and decorating trades led the recovery. Concern regarding future growth prompted the company to develop technology acquired earlier in the decade.

Electrostatic painting, which required less paint and reduced emissions, had become a preferred finishing method in increasingly cost-conscious, competitive, and environmentally concerned times. A heavy investment in the technology paid off: Graco developed a successful new line of sophisticated products and positioned itself as an electrostatic equipment supplier for automobile makers.

In the company established a joint venture, Graco Robotics, Inc. Paul CityBusiness article, Graco saw robotics as "a logical and necessary extension of its finishing business. In Graco sales and earnings were hit by a combination of poor market and economic conditions, but the company continued to pump research and development dollars into the slowly progressing robotics venture and even increased its ownership from 51 to 80 percent.

GRI sold its first robots in and became profitable in