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1893 |
Frederick Louis Maytag, together with his two brothers-in-laws and George W. Parsons each contributed $600 for a total of $2,400 to start a farm implement company. The company produced threshing machine, band-cutter and self-feeder attachments invented by one of the founders of the company. The company’s first name was: Parsons Band-Cutter & Self Feeder Company. |
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1902 |
Maytag was the largest feeder manufacturer in the world, and by 1904, The Ruth was the most popular model |
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1905 |
Maytag expands its farm implement line through product development of The Success Corn Husker and
Shredder. |
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1907 |
Maytag's first washer was named the Pastime, the machine was made of the finest cypress, an extremely hard wood with natural water resistance. When turned by the handle on the tub lid an internal dolly rotated the clothes, rubbing the fabric against a grooved interior. The Pastime was an immediate success with housewives, who were free from the drudgeries of using a washboard or their own hands to clean clothes. |
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1909 |
F. L. Maytag, purchased 3/5's of the Mason Automobile Co., Owning $75,000 of the $125,000 for which the company had capitalized, the company became known as the Maytag-Mason Motor Co, with the production facilities being moved from Des Moines to Waterloo, Iowa. Accompanying the Mason name and background came two of the most famous designers and builders of cars in the early days of automotive engineering, Fred and August
Duesenberg. Maytag Company produced farm tractors until 1916. |
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1907-11 |
The farm equipment line was expanded to include hay presses, hog waters and several specialized feeders and harvesting equipment. 1911 saw the addition of an electric motor to the washing machine, called "The Singing Wringer |
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1919 |
Maytag introduced the first aluminum washer tub ever produced, replacing the old wooded tub design. |
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1922 |
The next generation of washers that had an agitator instead of an internal dolly, was designed by Howard Snyder. |
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1943 |
Maytag, along with many other appliance manufacturers stops washing machine production to support War effort by manufacturing airplane hydraulics. |
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1946 |
Post-war washing machine and dryer production commences as well as the addition of ranges and refrigerators to its product line-up (being manufactured by other companies). |
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1949 |
The first automatic washer called the "AMP" is developed. |
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1953 - 55 |
Maytag produces its first automatic dryer, called the “Halo of Heat” Dryer and drops ranges and ovens from its product line. |
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1960 |
Refrigerators are dropped from its product line. |
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1966 |
The first portable dishwasher is introduced by Maytag. |
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1981 |
Maytag wants to become a full-line appliance supplier again, begins by acquiring Hardwick Stove Company, bringing ranges, stoves and ovens back into the product portfolio |
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1982 |
Purchases
Jenn-Air Corporation, the leading manufacturer of indoor electric grills with stove-top vent systems. These products added a full line of gas and electric cooking appliances to the Maytag line and were sold under the Maytag umbrella. |
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1986 |
Maytag becomes a full-line major appliance manufacturer with the purchase of the Magic Chef group of companies in a $737 million stock swap. Magic Chef's gave the company the Admiral brand with products in the refrigerator and freezer sector. Magic Chef also produced other home appliances under the names Toastmaster, Magic Chef, and
Norge. The merger gave Maytag the fourth-largest share of the U.S. appliance market. It also brought vending machine manufacturer
Dixie-Narco Inc., with its number one position in soft-drink vending equipment, into the fold. |
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1989 |
Maytag bought Chicago Pacific Corp. for $961 million in order to support the corporate growth strategy to become a more global supplier. The primary reason for this purchase was Chicago Pacific's Hoover division, which produced and sold high-quality washers, dryers, refrigerators, dishwashers, and other products primarily in Great Britain and Australia, but also in continental Europe. Hoover also sold vacuum cleaners in the United States, a new product for the company . Another reason for the Chicago Pacific purchase was to further ward off takeover. The $500 million debt the company assumed with the acquisition helped make the company less attractive to raiders. Meanwhile, 1989 also saw the debut of the first refrigerators bearing the Maytag brand. |
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1994 |
After loosing $163 million since its purchase, from Hoover Europe alone, in late 1994 Maytag sold its Hoover Australia unit to Southcorp Holdings for $82.1 million in cash, resulting in an after-tax loss of $16.4 million. In the second quarter of the following year, Maytag sold Hoover Europe to Italian appliance maker Candy SpA for $164.3 million in cash, resulting in an after-tax loss of $135.4 million. Maytag retained the Hoover North America operation. Proceeds from these sales were largely used to pay down the company's long-term debt. |
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1996 |
Maytag invested $70 million to set up a series of joint ventures with the Hefei Rongshida Group Corporation, to gain access to the market in China. Hefei Rongshida Group was the leading washing machine firm in China, marketing its products under the well-known RSD brand. |
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1997 |
Introduced front-loading washing machnes and made a $93.5 million purchase of
G.S. Blodgett Corp. a privately held company which traced its origins to the Blodgett Oven Co. founded in Burlington, Vermont, in 1848. Blodgett manufactured commercial ovens, fryers, and charbroilers for the food service industry, a logical extension of Maytag product lines and customers. |
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2005 |
Two former appliance division presidents (Bill Beer, former president of Maytag Appliances, and Tom
Briatico, former president of Hoover have signed separation agreements completing the final chapter in its six-month-long reorganization process, ending their 30-plus year association with Maytag effective January 31. |
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2006 |
Whirlpool Corporation acquires Maytag for $848 million and about 9.6 million shares of Whirlpool common stock, which went to the Maytag stockholders.
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