Teleflex, Inc.
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| Teleflex Incorporated | |
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| Type | Public (NYSE) |
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| Founded | 1943 |
| Headquarters | Limerick, PA |
Teleflex Incorporated (NYSE: TFX) is a diversified company with annual revenues of $2.5 billion. Teleflex designs, manufactures and distributes quality-engineered products and services for the automotive, medical, aerospace, marine, and industrial markets worldwide. Headquartered in Limerick, Pa., with operations in 24 countries, Teleflex employs more than 20,000 people worldwide who focus on providing innovative solutions for customers.
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[edit] History
Teleflex began in 1943 when two British mechanics designed a multi-strand helical cable with a gear that could convert push/pull motions into rotary motions. Mechanics used this device to give pilots a way to tune their radios remotely. By the end of World War II, every military aircraft in Great Britain carried at least one Teleflex control.
In the 1940s, the company’s mechanical controls were used primarily in aircraft, as well and submarines and small naval vessels. At the end of World War II, orders for military aircraft controls all but disappeared. Fortunately, Teleflex had branched into some industrial markets, particularly on the accelerator control for buses. In 1944, Teleflex created an extensive line of marine products based on control systems originally designed for military vessels. Around the same time, they also advanced into the automotive market with a line of controls for car windows.
With the outbreak of the Korean War, Teleflex prospered from orders for military aircraft controls, particularly in the new emerging jet market. The applications ranged from controlling engine throttles, opening and closing fuel valves, operating flaps and landing gear, and helping steer and brake the aircraft on the ground. But the operating environment for the new jet aircraft of the 1950s was much different from that of the Spitfires 15 years earlier, and the traditional lubricant for Teleflex cables was organic and ineffective in the 625-degree heat of the jet engine.
Teleflex entered the emerging market for nuclear reactor instrumentation and controls with an electromechanical instrumentation package called the Flux Mapping System. The temperatures in this instrumentation were as severe as those in jet engines. It was important to find a lubricant for the reactors’ control rods that would also be effective in a jet engine. In 1959, Charlotte Allen developed such a lubricant, which Teleflex released in 1964 under the Sermatel name.
By the 1960s, nearly all major boat builders and automotive manufacturers were using Teleflex control systems. The landmark marine product was a single lever control for outboard motors, supplemented later by a dual-lever control. By 1966, the company was a well-established supplier to GM, Ford, and Chrysler, as Teleflex had successfully applied their control products to the aerospace, automotive and marine businesses.
Also in the late 1960s, one of the company’s major customers, General Electric, had begun coating compressor cases, blades, vanes and other engine parts with Sermatel. As a service, Teleflex began applying the coatings for them. Over time, Teleflex began making the parts as well. Finally, Teleflex began assembling components and subsystems, shipping ready-to-install systems to customers.
As aircraft got bigger, their control cables naturally became longer. Friction and a lack of control precision became growing problems. In 1967, Teleflex acquired a company with expertise in extrusion to make cables with lower friction and better precision. Once that problem was solved, Teleflex’s entrepreneurial spirit led them to look for different applications of the new technology and precision extruded tubing. Thus, Teleflex entered the medical market as a maker of catheters.
Teleflex’s entrepreneurial spirit has brought them a long way since the first cable and gear, growing from with $54,000 of revenues in 1943, to one with $2.5 billion of revenues in 2005. Through acquisitions and expansions, the company has grown into many new markets, far different from the aerospace market in which it began.
[edit] Business Overview
Teleflex Incorporated designs and manufactures specialty engineered products, serving as a world-class global supplier to the automotive, marine, industrial, medical and aerospace markets. Dedicated to customer service, the company strives to design real-world solutions with products that are practical, cost-effective and reliable.
Teleflex is committed to an entrepreneurial spirit of creativity and innovation, building on new ideas and creating opportunities for profitable growth. In recent years, Teleflex has proven its commitment to core growth by realigning its business segments and strengthening its infrastructure. The company continues to position itself for the future by making businesses more competitive, leveraging resources, and investing in new products and acquisitions.
[edit] Business Segments
[edit] Commercial
Teleflex Commercial brings technical expertise to a wide range of mechanical and electronic solutions. They develop and deliver specialty-engineered driver controls, motion controls, power and vehicle management systems and fluid-handing systems including tubing and hoses for customers in the marine, industrial and automotive markets worldwide. Businesses in the Commercial segment design, manufacture, and distribute integrated systems to help customers improve the efficiency safety, ergonomics, and the environmental friendliness of their vehicles.
[edit] Aerospace
Teleflex Aerospace is composed of three businesses focused on specialty-engineered products that meet the demanding requirements of cargo handling and aircraft engine build and repair. The division supports the world's commercial and military aircraft with flight- and ground-based repair products and services for industrial and steam turbines, cargo-handling systems for passenger and freighter aircraft, and precision-machined components.
[edit] Medical
Teleflex Medical is a global supplier of medical devices, surgical instruments, and disposable medical products. They are a global organization dedicated to supporting healthcare providers with a broad range of medical solutions. Teleflex Medical markets Rüsch and Hudson RCI healthcare supplies, as well as Deknatel, KMedic, Pilling, and Weck surgical instruments and medical devices.
