Dayco Products, formerly known as
Mark IV Industries, is an American parts supplier for construction, automotive, and industrial companies.
The companies annual earnings are approximately US$150 million.
[ Its main customers include ]Caterpillar
Caterpillars ( ) are the larva, larval stage of members of the order Lepidoptera (the insect order comprising butterfly, butterflies and moths).
As with most common names, the application of the word is arbitrary, since the larvae of sawfly ...
and General Motors.
History
Dayco was founded in 1905 as Dayton Rubber Manufacturing Co.rubber
Rubber, also called India rubber, latex, Amazonian rubber, ''caucho'', or ''caoutchouc'', as initially produced, consists of polymers of the organic compound isoprene, with minor impurities of other organic compounds. Thailand, Malaysia, a ...
. In 1908, the company hired John A. MacMillan
John is a common English name and surname:
* John (given name)
* John (surname)
John may also refer to:
New Testament
Works
* Gospel of John, a title often shortened to John
* First Epistle of John, often shortened to 1 John
* Second E ...
, and began creating his product, the airless tire. The company also produced the first whitewall tires in 1913. Beginning in the early 1920s, the company entered a diversification period when it radically increased the variety of its products. Dayco would eventually make many different rubber parts, as well as some textiles. It also pioneered some synthetic rubber
A synthetic rubber is an artificial elastomer. They are polymers synthesized from petroleum byproducts. About 32-million metric tons of rubbers are produced annually in the United States, and of that amount two thirds are synthetic. Synthetic rubbe ...
products, including developing the first synthetic rubber tire. The company would be a valuable supplier of military products during World War II. The company officially changed its name to the DAYCO Corporation in 1960.
Controversies
Dayco filed for bankruptcy protection in April 2009, and emerged from bankruptcy approximately 6 months later. It eliminated about $750 million in debt during the bankruptcy.[ In 2015, Dayco attracted controversy when it announced it would be closing its two Distribution Centers in North Carolina and one in Nevada.][ Dayco was consolidating into its Memphis, Tennessee Distribution Facility. The move attracted media attention and resulted in several hundred jobs being lost.][
]
References
External links
Official website
Automotive companies of the United States
Manufacturing companies based in Michigan
Manufacturing companies established in 1905
1905 establishments in Ohio
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