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The company continued its acquisitions, buying the John Crane Company for $204 million and taking a 49% stake in the UK based Crane Packaging, followed by Warren Rupp for $25 million. With the heavy debt created by the LBO, the early 1980s recession, and Japanese competition in the machine tool manufacturing industry, profits disappeared.
Hale sells fire-trucks, portable pumps, ventilation systems, and the Hurst "Jaws of Life". [5] In January 1998, IDEX agreed to buy Gast Manufacturing of Benton Harbor, Michigan, for $118 million. Gast manufactures compressors, vacuum pumps, air motors and other products. [6] In 2011, IDEX Corporation acquired The Fitzpatrick Company. [7]
Diversifying their product line to include a variety of specialized pumps contributed to significant sales increase and growth in the post-war era. [4] In 2021, The Gorman-Rupp Company had sales of $378.3 Million and was listed by industrial database IndustrySelect as one of the largest pump manufacturers in the United States. [5] [6]
Warren resigned in 1922 to found his own oil company, Warren Petroleum Company of Delaware. He made his headquarters in Tulsa, Oklahoma, with himself and his wife as the only people on the payroll. [3] His firm concentrated on producing and marketing liquefied petroleum gas (LPG), a byproduct of natural gas processing.
In the later 19th century, before oil was discovered in Texas, Oklahoma, or the Middle East, Cleveland, Ohio had a claim to the title, [6] with 86 [7] or 88 [8] refineries operating in the city in 1884. Tulsa claimed the name early in the 20th century, after oil strikes at Red Fork (1901) and Glenpool (1905) in Tulsa County.
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