Art's Way

Last updated

Art's Way
Type Public [1]
Nasdaq:  ARTW [1]
Industry Manufacturer [1]
Founded1956 [2]
Headquarters Armstrong, Iowa [1]
Area served
US and 9 other countries [3]
Key people
Products
Revenue
  • Increase2.svg $25.0 million (2021) [3]
  • Decrease2.svg $22.4 million (2020) [3]
  • Increase2.svg $213,000 (2021) [3]
  • Decrease2.svg $2.1 million loss (2020) [3]
Number of employees
150 (2022) [1]
Website www.artsway.com

Art's Way Manufacturing is an American producer of agricultural machinery, modular buildings and cutting tools under the brand names Art's Way, Art's Way Scientific and American Carbide Tool. [1] The firm previously manufactured OEM feed blowers sold by Case New Holland. [3]

Contents

History

Iowa farmer Arthur Luscombe (1922–2008) [6] founded Art's Way Manufacturing in 1956 to produce and sell a power take-off powered grinder-mixer he had developed on his farm near Dolliver. By 1959, the business was manufacturing OEM grinder-mixers for Massey Ferguson, Owatonna / Gehl and International Harvester. [2]

In 1974, Art's Way listed as a public company by initial public offering with Nasdaq code ARTW. [2]

Following the 1994 sale of his Marc McConnell Tractor business to AGCO, Ward McConnell purchased Logan Falls based Logan Potato Equipment. In 1996, he merged the Logan enterprise with a then financially troubled Art's Way and joined the board of directors. In 2002, McConnell became Chairman, a role taken up by his son Marc in 2015. [4] [2]

Acquisitions and new businesses

Armstrong Rim & Wheel established to build wheels for grinder-mixers. [2] [lower-alpha 1]
1966Silamix mixer-wagons acquired. WeighTronix weighing scale developed to fit the mixer-wagons, grinder-mixers and for third party applications. [2] [lower-alpha 2]
1980sSunmaster mowers and shredders from Rotech. [2] [lower-alpha 3]
Heath Farm Equipment sugar beet harvesters and toppers. [2]
Range of potato harvesters including the John Deere patent wheel harvester. [2] [lower-alpha 3]
1990sStationary and mobile Peerless roller mills. [2]
Eversman land planes, levellers, ditchers, scrapers and cultivators. [2]
1996Logan potato equipment [4] [lower-alpha 4]
1990sDMI grain wagon [2] [lower-alpha 3]
Farm Tool grain drills, Speedy bean cutters and dump wagons. [2] [lower-alpha 3]
2000Landstar / KanAm pull type graders. [2]
2005 Steel pressure vessel manufacturing begins in Dubuque, Iowa. [2] [lower-alpha 3]
2006Scientific division established in Monona, Iowa to manufacture modular laboratories and other buildings. [2]
2007MillerPro and Badger forage boxes, forage blowers, hay rakes, and mergers. [2] [lower-alpha 5]
2008Facility opened at Salem, South Dakota to manufacture grain augers. [2] [lower-alpha 5] [lower-alpha 6]
2010Roda manure spreaders [8]
M&W balers from Alamo Group. [9] [lower-alpha 7]
Facility in West Union, Iowa. [2] [lower-alpha 6]
2012Universal Harvester reels for combine harvesters / swathers at cost $3 million plus 5,000 Art's Way shares. [11] [lower-alpha 5]
2013AgroTrend distribution business, and manufacturing of dump carts and snow blowers. Based in Clifford, Ontario. From Rojac Industries Inc. [12] [lower-alpha 8] [lower-alpha 6]
Ohio Metal Co Inc American Carbide brand machine tooling in Canton, Ohio, Ohio for a cost of $3,172,000. [13] [lower-alpha 9]
  1. ↑ Sold 1980s [2]
  2. ↑ WeighTronix sold 1980s. Mixer-wagons not part of 2022 product range [2] [5]
  3. 1 2 3 4 5 Not part of 2022 product range [5]
  4. ↑ By 2016 the business was part of Tristeel Manufacturing [7]
  5. 1 2 3 Dropped from strategic product range in 2020 and stocks written down in value [3]
  6. 1 2 3 Location no longer listed for Art's Way in 2022 [1]
  7. ↑ Product line discontinued by 2018 [10]
  8. ↑ Snow blowers not part of 2022 product range [5]
  9. ↑ Products include single point brazed carbide tipped tools, and polycrystalline diamond / cubic boron nitride inserts. [3]

Awards

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References

  1. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 "Art's Way Manufacturing's Core Agricultural Products Segment Reports 31.7% Revenue Increase..." Yahoo Finance. October 5, 2022. Archived from the original on October 5, 2022. Retrieved October 6, 2022.
  2. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 "Arts Way History". Arts Way. Archived from the original on November 29, 2021. Retrieved October 6, 2022.
  3. 1 2 3 4 5 6 7 8 9 "Annual Report 2021". Arts Way. 2021. Archived from the original on October 6, 2022. Retrieved October 6, 2022.
  4. 1 2 3 Lessiter, Mike (January 23, 2019). "Conversations with Ag Equipment's Entrepreneurs: Art's Way's Ward and Marc McConnell". Archived from the original on January 21, 2022. Retrieved October 6, 2022.
  5. 1 2 3 4 5 "Equipment". Arts Way. Retrieved October 6, 2022.
  6. ↑ "Arthur Luscombe Obituary - Dolliver, Iowa". Tributes.com. Archived from the original on July 23, 2015. Retrieved July 18, 2015.
  7. ↑ "About us". Logan. Archived from the original on January 26, 2022. Retrieved October 7, 2022.
  8. ↑ "Art's Way to Acquire Manure Spreader Product Line of Roda Manufacturing". Prnewswire. October 23, 2009. Archived from the original on July 22, 2015. Retrieved July 18, 2015– via Farm Equipment.
  9. ↑ "Art's Way Manufacturing Announces Acquisition Completion of M&W Round Hay Baler Product Line..." Prnewswire. June 15, 2010. Archived from the original on July 22, 2015. Retrieved July 18, 2015.
  10. ↑ "M & W Round Balers". Yesterdays Tractors. Retrieved October 7, 2022.
  11. ↑ Crumb, Michael (May 26, 2012). "Art's-Way buys Universal Harvester in Ames". Ames Tribune. Archived from the original on July 22, 2015. Retrieved July 18, 2015.
  12. ↑ "Art's-Way Manufacturing Closes Acquisition Of Agro Trend". RTT News. June 26, 2013. Archived from the original on July 22, 2015. Retrieved July 18, 2015.
  13. ↑ "Art's Way Manufacturing Closes Acquisition Of Ohio Metal Working Products Company". Prnewswire. Archived from the original on July 22, 2015. Retrieved July 18, 2015.
  14. ↑ "Art's-Way Scientific Wins Modular Building Institute Award For Iowa State University Transgenic Swine Facility". Yahoo Finance. May 18, 2015. Archived from the original on July 22, 2015. Retrieved July 18, 2015.
  15. ↑ "Art's Way Scientific wins Modular Honor". Marketing Sales Management. May 19, 2015. Archived from the original on July 21, 2015. Retrieved July 18, 2015.
  16. ↑ "Art's Way Scientific Earns Prestigious Modular Building Institute Award". Prnewswire. July 31, 2014. Archived from the original on July 22, 2015. Retrieved July 18, 2015.
  17. ↑ "The 200 Best Small Companies: #54 Art's Way Manufacturing". Forbes.com. Archived from the original on July 16, 2015. Retrieved July 16, 2015.
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