Powell Industries
| Traded as |
NASDAQ: POWL S&P 600 Component |
|---|
Powell Industries Inc. (NASDAQ: POWL) is a provider of packaged solutions for the control, monitoring, and distribution of electrical power and other critical processes with headquarters in Houston, Texas.
History
The company started its operations in 1947 manufacturing switchgear. However, the company suffered a series of financial problems throughout the late 1960s and did not go public until 1971.
On July 4, 2005, Powell acquired UK based company Switchgear & Instrumentation, located in Bradford. Total consideration paid for S&I was approximately $18.0 million.
In 2006 Powell bought a General Electric subsidy for $32,000,000.
In December 2012 Mike Lucas was named as CEO. He stepped down on December 2015.
The company is currently owned by Tom Powell, who is a Chairman of the company.
The company is controlled by Brett Cope, who is the CEO.
What they do
Powell Industries manufactures electrical equipment and computer systems that monitor the flow of electricity in industrial facilities. Products include switchgear, bus duct and process control systems for instrumentation, computer control, communications and data management. Powell sells to refineries, utilities, paper mills, offshore platforms, and transportation companies.
External links