Before 1950
In the early 1900s, the automotive industry was taking off in Michigan. Charles E. Johnson, a mechanic, and Paul R. Beardsley, a salesperson, foresaw the need for parts and components for this burgeoning market sector. Each deposited $1,000 in the National Lumberman's Bank of Muskegon, Michigan, which was to serve as the initial working capital of their new single product firm — The Piston Ring Company.
Growing with the Times
In the early years, the company focused on producing piston rings for leading engine builders. When World War I brought a huge increase in the demand for engine parts for the war effort, the Piston Ring Company responded by undertaking a major plant expansion.
The automobile became increasingly popular among consumer in the years between the two world wars. The Piston Ring Company embarked upon a series of acquisitions and expansions to meet growing industry needs.
The first acquisition was in 1923 with the purchase of the No-Leak-O Piston Ring Company. This enabled the company to increase its piston ring production. Anticipating the growth of the automotive industry beyond the United States, the company began exporting its products in 1925. It also entered into the increasingly lucrative replacement parts market, further increasing its market penetration.
A Strategy of Diversification
In 1931, the company acquired Accuralite Company, a manufacturer of pistons and cylinder sleeves. To convey its increasing product line diversity, the company changed its name from "The Piston Ring Company" to "Sealed Power Corporation."
Post-World War II was a period of major expansion. In 1946, the company opened its first plant outside Muskegon, Michigan with a piston ring machining facility at St. John's, Michigan.
Two years later, a cylinder sleeve machining facility was built in Rochester, Indiana. In 1957 a replacement parts distribution center in LaGrange, Indiana was added. By 1959, replacement parts accounted for approximately 50% of Sealed Power Corporation’s sales, providing an important hedge against the cyclical automotive original equipment market.