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Swagelok Company is a $2 billion privately held developer of fluid system products, assemblies, and services for the oil and gas, chemical and petrochemical, [2] semiconductor, and transportation industries.
In spring 1992, the company was acquired from the Mexican government by Bombardier of Canada, [3] [6] [12] [13] becoming part of Bombardier Transportation, as a subsidiary named Bombardier-Concarril SA. Production resumed later the same year.
The sale closed on March 28, 2005, with Progress Rail becoming a separate private company. [6] On May 17, 2006, Caterpillar Inc. announced it would purchase Progress Rail from One Equity Partners for $1 billion in cash, stock and debt. [7] The acquisition by Caterpillar was announced as part of its long-term strategy, Vision 2020.
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The company was founded in 1895 by John C. Lincoln with an investment of $200 to make electric motors he had designed. [3]The company is headquartered in Euclid, Ohio, and has 44 manufacturing locations, including operations and joint ventures in 19 countries and an international network of distributors and sales offices covering more than 160 countries.
The Top 100 Contractors Report on the Federal Procurement Data System lists the top 100 defense contractors by sales to the United States Armed Forces and Department of Defense.