Beloit Corporation

Beloit Corporation began in 1858 as a foundry in the Wisconsin city of Beloit and ended in 2000 when it filed for bankruptcy and parts of it were acquired by Metso Paper, a part of Metso Corporation. The Italian affiliate became PMT Italia under the control of the Nugo Group. For much of its history, the trading name was Beloit Iron Works, but it became simply "Beloit Corporation" in 1962.

History

In its early phases, the business offered a variety of iron-based machinery products. It traded under the names of its founders, as Merrill and Houston Iron Works. It was bought by four of its employees in 1885 and become Beloit Iron Works.[1]

In 1897 and 1900 the company exported its first paper machines to Japan and China respectively.[2]

In the last two decades of its history, the corporation was the only producer of pulp and paper machinery and systems in North America.

Four ex employees of Merrill and Houston combine to form a new company. They name the new company Beloit Iron Works. The new company has 10 employees and 4 working officers.

Acquisition by the Nugo group

After Beloit Corporation filed for bankruptcy, the Nugo Group bought up the Italian subsidiary of Beloit Corporation, Beloit Italia which was leading many Beloit’s project in Europe. The new owner gave a new name to the company: PMT Italia S.p.A. which stands for Paper Machinery Technology.[3]

References

  1. "From Beloit Iron Works To Beloit Corporation". Beloit, Wisconsin: Beloit Historical Society. Retrieved 2011-10-24.
  2. Paper Industry Web. "Beloit history". Beloit history.
  3. Perini Journal. 2004 http://www.perinijournal.com/index.php?option=com_content&task=view&id=306&Itemid=41. Missing or empty |title= (help)