Briggs & Stratton

Briggs & Stratton
Type Public (NYSEBGG)
Founded 1908
Headquarters Wauwatosa, Wisconsin
United States
Key people Todd J. Teske (CEO)
James E. Brenn (CFO)
Thomas R. Savage (Sr. VP of Admin)
William H. Reitman (Sr. VP of Sales & Customer Support)
Revenue US$2.03B (FY 2010)[1]
Operating income US$69.1M (FY 2010)[1]
Net income US$36.6M (FY 2010)[1]
Total assets US$1.69B (FY 2010)[2]
Total equity US$651M (FY 2010)[2]
Employees 6,847
Website http://briggsandstratton.com

Briggs & Stratton is the world's largest manufacturer of air-cooled gasoline engines primarily for outdoor power equipment. Current production averages 11 million engines per year.

Contents

History

The company was founded in Milwaukee, Wisconsin in 1908 and today is based in Wauwatosa, Wisconsin. Briggs and Stratton engines are commonly used on lawnmowers, as well as pressure washers, electrical generators, and a wide variety of other applications. Their original cast-iron engines were known for their durability, but the company's success was established following the development of lightweight aluminum engines in 1953. The aluminum engine was the perfect solution for the recently invented rotary lawnmower due to its lighter weight and lower cost. The company has developed a good reputation because of its independent central services distributors (CSDs), low cost replacement parts and well designed service literature.

The company started in 1908 as an informal partnership between Stephen Foster Briggs and Harold M. Stratton. The original intent of the founders was to produce automobiles. In 1922, the company set a record in the automotive industry, selling the lowest-priced car ever called the Briggs & Stratton Flyer (also called the "Red Bug") which sold at only US$125-US$150.

Eventually the company settled on manufacturing automotive components and small gasoline engines. Briggs purchased an engine patent from A.O. Smith Company and began powering early washing machines and refrigerators. The company went public on the New York Stock Exchange in 1928.

During World War II, Briggs and Stratton produced generators for the war effort. Some components in these generators and engines were made with aluminum, which helped the company develop its expertise in using this material. This development, along with the post-war growth of 1950s suburbs (and lawns), helped secure Briggs and Stratton's successful growth throughout the 1950s and 1960s.

Stephen Briggs went on to purchase Evinrude and Johnson Outboards and start the Outboard Marine Corporation. Fredrick P. Stratton, Sr. (the son of Harold Stratton) served as Chairman of Briggs & Stratton until his death in 1962. Fredrick P. Stratton, Jr. served as Chairman until his retirement in 2001.

In 1995, Briggs & Stratton sold the automotive component business. The resulting company is Strattec Security Corporation.

In 2003, the company acquired its consumer generator business from the Beacon Group and formed Briggs & Stratton Power Products. The Beacon Group had previously purchased the Consumer Products Division of Generac Corporation (now Generac Power Systems) in 1998. In 2005, the company added Simplicity Manufacturing Inc, and Snapper, Inc, to the Briggs & Stratton Power Products line. Murray, Inc, one of its largest customers, collapsed owing the company $40 million, and to minimize the loss B&S purchased the name, marketing rights & product designs of that company.

On 4 June 2008 Briggs & Stratton announced it would be acquiring the Victa Lawn Care business from GUD Holdings Limited Australia for A$23 million.

Acquisitions, agreements and joint ventures

Innovations

Logo history

The Briggs & Stratton logo was always a masthead, but it had been changed several times over the course of the company's 80+ years.

Cast iron models

Aluminum models

Industrial/commercial models

Outboard motors

Recommended reading

Library of Congress Catalog #: 95-060793; ISBN 0-945903-11-1

See also

Notes

  1. ^ a b c Briggs & Stratton (BGG) annual SEC income statement filing via Wikinvest.
  2. ^ a b Briggs & Stratton (BGG) annual SEC balance sheet filing via Wikinvest.
  3. ^ The Legend of Briggs & Stratton by Jeffrey L. Rodengen, Chapter 12, pages 138-140
  4. ^ Briggs & Stratton 1980 Update Seminar, form #MS-7865-10/79
  5. ^ The Legend of Briggs & Stratton by Jeffrey L. Rodengen, 1995, Chapter 12, page 149
  6. ^ The Legend of Briggs & Stratton by Jeffrey L. Rodengen, 1995, Chapter 12, pages 149-152
  7. ^ The Legend of Briggs & Stratton by Jeffrey L. Rodengen, 1995, Chapter 12, pages 153-154
  8. ^ The Legend of Briggs & Stratton by Jeffrey L. Rodengen, Chapter 11, pages 120-121
  9. ^ The Legend of Briggs & Stratton by Jeffrey L. Rodengen, Chapter 11, page 121
  10. ^ The Legend of Briggs & Stratton by Jeffrey L. Rodengen, Chapter 11, pages 121-122
  11. ^ The Legend of Briggs & Stratton by Jeffrey L. Rodengen, Chapter 11, page 127
  12. ^ The Legend of Briggs & Stratton by Jeffrey L. Rodengen, Chapter 12, pages 140-141
  13. ^ The Legend of Briggs & Stratton by Jeffrey L. Rodengen, Chapter 12, pages 141-142
  14. ^ "No coil, no points, no condenser: Spark Pump Fires Engine": Popular Science, July 1961]

External links