National Presto Industries (NYSE: NPK) is a company founded in 1905 in Eau Claire, Wisconsin in the "appliances" industry. Originally called the "Northwestern Steel and Iron Works" and then becoming the "National Pressure Cooker Company" in 1917, the company produced pressure canners. Beginning in 1939, National Presto Industries introduced small home-use cooking appliances. The company was admitted to the New York Stock Exchange on March 3, 1969.
The company is divided into three business segments (divisions), Housewares/Small Appliance; Defense; and Absorbent Products. The Housewares/Small Appliance segment "designs and sells small household appliances", including pressure cookers, under the Presto brand. The Defense segment produces ordnance and ammunition products. The Absorbent Products segment "is primarily engaged in the manufacture of private label adult incontinence products."
Having previously divested itself of almost all operations and having closed its defense operations in 1992, the company was a small household appliance seller. In 2001, with the purchase of AMTEC, the company returned to the defense business. During the first three quarters of 2009, National Presto obtained more than $650,000,000 in contracts with the U.S. government for ammunition. Also in 2001, the company acquired RMED International and created its Absorbent Products division.
Read more about National Presto Industries: Small Appliances
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