Document MoaNqzZG6ErvqBn5Y8dmOVoEa

KHALL02871 GROWTH AND DIVERSIFICATION... over sixty years of change and progress Anit!i'ir.;in Brake Shoe: was formed in 1002 with the merger of fi vi: small illumines that soli! brake shims anil other products In tin: railroads. Prosperous from the start, the company looked toward further expansion in both railroad and indus trial markets. The first major step in serving industry occurred in 1910, when a subsidiary was organized to produce manganese steel castings for the mining and construction industries as well as for railroads. From this entree to industrial markets, Brake Shoe steadily expanded its position as a supplier of many types of castings for hundreds of applications. Growth in the railroad area continued with the addition of facilities for mnnufnr.iuring railroad freight car wheels, rail road frogs, switches and crossings, and hronze journal hear ings for freight cars. Growth in the industrial area came with Brake Shoe's entrance into the steel forging business, where new markets were opened for our products in farm and con struction machinery and automotive manufacturing. The latter market was expanded when Brake. Shoe developed a type of organic friction product ideally suited for auto motive braking, anil the company became a major supplier of brake lining for both original equipment and replacement. Continued product research led to the development of a newer type of friction product--sintered metal--for service under extremely severe conditions. Abex is now a leading producer of metallic friction products for brake and clutch application in vehicular and industrial use. Further product diversification was initiated when the com pany acquired a well-established manufacturer of hydraulic pumps, presses and controls. Using these products and facili ties as a nucleus, Abex began to build hydraulics into an im portant segment of its business, and now supplies a multitude of products for industrial, aerospace and mobile application. Abex has manufactured railroad products in Canada since 1900 and now produces hydraulic equipment, manganese steel castings, friction products and tire molds there as well. With the development of the Common Market. Brake Shoe has also expanded its facilities in Europe, and now operates plants there for the production of hydraulic equipment, tire molds and friction products. Throughout the free world, our products are also available from many affiliates and licen sees. or through export from the United States. Approxi mately 13.500 people are employed in plants and offices of the company in North America and Europe. 002871 2