JBT Corporation
JBT Corporation is an American food processing machinery and airport equipment company. JBT Corporation was incorporated in 2008 when FMC Technologies divested its non-energy businesses. JBT Corporation is based in Chicago, Illinois. Its Airport Equipment Division manufactures and services the Jetway brand of airport passenger loading bridges and other Ground Support Equipment such as Cargo Loaders, Deicers and pushback tractors.
 | |
| Type | Public |
|---|---|
| NYSE: JBT S&P 600 Component | |
| Founded | 1884 (as the Bean Spray Pump Company) 1928 (as Food Machinery Corporation) 2001 (as FMC Technologies, Inc) 2008 (as JBT Corporation) |
| Headquarters | Three First National Plaza Chicago, Illinois, United States |
Key people | Brian A. Deck, Interim President and Chief Executive Officer |
| Products | Food processing solutions, automated guided vehicle systems, and equipment/services for the air transportation industry. |
| Revenue |  $1,946 Million USD (2019) |
| $129.0 Million USD (2019) | |
Number of employees | approx 6,200 (2020) |
| Website | |
History
The Bean Spray Pump Company
Founded in 1884 as the Bean Spray Pump Company in Los Gatos, California[1] by John Bean. The company's first product was a piston pump. Bean invented the pump to spray insecticide on the many fruit orchards in the area. A Bean sprayer is on display at the Forbes Mill museum there.[2] Bean Avenue in downtown Los Gatos is named after John Bean.
FMC
In 1928, Bean Spray Pump purchased Anderson-Barngrover Co. and Sprague-Sells, and changed its name to Food Machinery Corporation, and began using the initials FMC. FMC received a contract to design and build landing vehicles tracked for the United States War Department in 1941. FMC also built the M113 (APC) Armored Personnel Carrier and the Bradley Fighting Vehicle as well as the XR311 at its former facility in Santa Clara, California. The troubled development of the Bradley was satirized in the 1998 HBO movie The Pentagon Wars. In the movie FMC was fictionalized as A.O.C corporation. Bean also manufactured fire fighting equipment in the 1960s through the 1980s under the FMC and the Bean names.
FMC also produced fire truck fire pumps and pumper bodies, and had an OEM arrangement with LTI (Ladder Towers Inc.) to market aerial ladders. In the early 1980s the Fire apparatus division of FMC tried to expand its role in aerial ladders on fire trucks, leveraging the Link-Belt crane division. FMC was ultimately unsuccessful in its expansion into production of aerial ladders. The FMC Fire Apparatus division was also ultimately shut down in 1990.[3]
Spinoffs
In 1946, FMC bought out Bolens Lawn And Garden Equipment. FMC changed names again in 1948, becoming Food Machinery and Chemical Corporation. In 1961 the name was changed to FMC Corporation.
In 1967, the FMC Corporation merged with the Link-Belt Company. The company produced FMC Link-Belt branded cranes and excavators. In 1986, the Link-Belt Construction Equipment Company was formed as a joint venture between FMC Corporation and Sumitomo Heavy Industries.
Between 1965 and 1985 FMC was the owner of the Gunderson metal works in Oregon USA, during that period it was known as the 'Marine and Rail Equipment Division of FMC' (MRED), it was sold in 1985 to The Greenbrier Companies.[4]
In the 1980s, 1990s, and 2000s (decade), FMC Corporation began spinning several of its divisions into separate companies, including United Defense and FMC Technologies, and selling its divisions, including the John Bean Company, now a subsidiary of Snap-on Equipment, a division of Snap-on. Bolens was sold to Troy Built in 1991.
On April 30, 2008, FMC Technologies announced the spinoff of its airport and food equipment businesses into a separate company named John Bean Technologies Corporation, headquartered in Chicago, Illinois. JBT is named after the spray pump inventor whose business was the foundation of FMC Corp.
Acquisitions
On August 3, 2015, JBT completed the acquisition of Stork Food & Dairy Systems, a Dutch company specializing in processing and filling equipment primarily for the dairy and juice industry that was previously part of Stork B.V.[5]
On September 2, 2015, JBT announced the acquisition of A&B Process Systems, a privately held fabrication and installation company located in Wisconsin.[6]
On Feb 27, 2017, JBT purchased Avure Technologies, Inc., a provider of high pressure pasteurization (HPP) systems.[7]
On July 31, 2017, JBT acquired PLF International Limited, supplier of powder filling systems for the food and beverage market.[8]
On July 12, 2018, the acquisition of FTNON, a solutions provider for fresh produce, ready meals, and pet food industries.[9]
Organization
JBT Corporation is organized in two business segments: JBT FoodTech and JBT AeroTech.
JBT FoodTech sells products and services for food processing companies. Markets include food freezers, protein processing, in-container food processing, and fruit processing.
JBT AeroTech sells products and services to airport authorities, airlines, airfreight and ground handling companies. Products include ground support equipment and gate equipment. Services include maintenance of airport equipment, systems and facilities. JBT AeroTech also supplies the United States military with equipment for cargo loading, aircraft towing, and aircraft cooling.
In addition, JBT Corporation has an automated guided vehicle business focused on material handling in the automotive, printing, food & beverage, manufacturing, warehouse, and hospital industries.
References
- Los Gatos city ordinance honoring the history of the Almond Grove neighborhood Archived 2010-05-28 at the Wayback Machine
- Forbes Mill museum (see photo of Bean sprayer) Archived 2009-07-28 at the Wayback Machine
- Aerial Fire Trucks, By Larry Shapiro, page 61.
- E.M. Lundquist; Bruce Harmon; Kathy Hinson (February 2000). "Gunderson : A history of an Oregon company" (PDF). www.gbrx.com. Gunderson, The Greenbrier Companies.
- "JBT Corporation Completes Acquisition of Liquid Foods Solutions Provider". Yahoo Finance. Retrieved 29 October 2015.
- "JBT Corporation Signs Definitive Agreement to Acquire Leading Liquid Foods Solutions Provider". Yahoo Finance. Retrieved 29 October 2015.
- "JBT Corporation Acquires Avure, a Leading Provider of High Pressure Processing Solutions". www.prnewswire.com. Retrieved 2018-07-18.
- "JBT Corporation Acquires PLF International Limited". www.prnewswire.com. Retrieved 2018-07-18.
- "JBT Corporation Acquires FTNON Almelo B.V. and Affiliates". www.prnewswire.com. Retrieved 2018-07-18.