Dayco Products, formerly known as Mark IV Industries, is an American parts supplier for construction, automotive, and industrial companies.[1] The companies annual earnings are approximately US$150 million.[1] Its main customers include Caterpillar and General Motors.[2]
Dayco was founded in 1905 as Dayton Rubber Manufacturing Co.[3] by Col. J. C. Hooven in Ohio. The company initially made products such as garden hoses out of natural rubber. In 1908, the company hired John A. MacMillan, and began creating his product, the airless tire. The company also produced the first whitewall tires in 1913. Beginning in the early 1920s, the company entered a diversification period when it radically increased the variety of its products. Dayco would eventually make many different rubber parts, as well as some textiles. It also pioneered some synthetic rubber products, including developing the first synthetic rubber tire. The company would be a valuable supplier of military products during World War II. The company officially changed its name to the DAYCO Corporation in 1960.[4]
ControversiesEdit
Dayco filed for bankruptcy protection in April 2009, and emerged from bankruptcy approximately 6 months later. It eliminated about $750 million in debt during the bankruptcy.[1] In 2015, Dayco attracted controversy when it announced it would be closing its two Distribution Centers in North Carolina and one in Nevada.[2] Dayco was consolidating into its Memphis, Tennessee Distribution Facility. The move attracted media attention and resulted in several hundred jobs being lost.[2]
ReferencesEdit
^ abcMattoli, Dana; Spector, Mike (6 May 2015). "Dayco Products Exploring Strategic Options, Including Sale". The Wall Street Journal. New York.
^ abcOhnesorge, Lauren (25 May 2016). "Dayco: Here's why we're closing N.C. facilities, laying off employees". Triangle Business Journal. Retrieved 25 May 2016.
^McNulty, Mike (25 May 2016). "Dayco leans on CEO for stronger operation". Rubber & Plastics News. Retrieved 25 May 2016.
^Bruck, Kate. "DAYCO Corporation" (PDF). Retrieved 25 May 2016.
External linksEdit
Official website
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dayco, this, article, needs, additional, citations, verification, please, help, improve, this, article, adding, citations, reliable, sources, unsourced, material, challenged, removed, find, sources, news, newspapers, books, scholar, jstor, february, 2020, lear. This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Dayco news newspapers books scholar JSTOR February 2020 Learn how and when to remove this template message Dayco Products formerly known as Mark IV Industries is an American parts supplier for construction automotive and industrial companies 1 The companies annual earnings are approximately US 150 million 1 Its main customers include Caterpillar and General Motors 2 Dayco Products LLCDayco World HeadquartersIndustryManufacturingFounded1905 Dayton Ohio United StatesHeadquartersRoseville Michigan USANumber of locations40Area servedWorldwideKey peopleCraig Frohock Aftermarket and Belts Michael Weiss Propulsion Solutions OwnerHidden Harbor Capital PartnersNumber of employees3 600 2022 Websitehttps www dayco com Contents 1 History 2 Controversies 3 References 4 External linksHistory EditDayco was founded in 1905 as Dayton Rubber Manufacturing Co 3 by Col J C Hooven in Ohio The company initially made products such as garden hoses out of natural rubber In 1908 the company hired John A MacMillan and began creating his product the airless tire The company also produced the first whitewall tires in 1913 Beginning in the early 1920s the company entered a diversification period when it radically increased the variety of its products Dayco would eventually make many different rubber parts as well as some textiles It also pioneered some synthetic rubber products including developing the first synthetic rubber tire The company would be a valuable supplier of military products during World War II The company officially changed its name to the DAYCO Corporation in 1960 4 Controversies EditDayco filed for bankruptcy protection in April 2009 and emerged from bankruptcy approximately 6 months later It eliminated about 750 million in debt during the bankruptcy 1 In 2015 Dayco attracted controversy when it announced it would be closing its two Distribution Centers in North Carolina and one in Nevada 2 Dayco was consolidating into its Memphis Tennessee Distribution Facility The move attracted media attention and resulted in several hundred jobs being lost 2 References Edit a b c Mattoli Dana Spector Mike 6 May 2015 Dayco Products Exploring Strategic Options Including Sale The Wall Street Journal New York a b c Ohnesorge Lauren 25 May 2016 Dayco Here s why we re closing N C facilities laying off employees Triangle Business Journal Retrieved 25 May 2016 McNulty Mike 25 May 2016 Dayco leans on CEO for stronger operation Rubber amp Plastics News Retrieved 25 May 2016 Bruck Kate DAYCO Corporation PDF Retrieved 25 May 2016 External links EditOfficial website This United States manufacturing company related article is a stub You can help Wikipedia by expanding it vte This automobile related article is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Dayco amp oldid 1159711570, wikipedia, wiki, book, books, library,
