Formerly | |
---|---|
Company type | Public |
Fate | Acquired by Honeywell |
Number of locations | 8 manufacturing facilities (1999) [3] |
Revenue | |
Owner | Standard Shares (40% in 1968) [2] |
Number of employees | 7,600 (1999) [3] |
Subsidiaries | B.R.K Electronics [4] |
Pittway Corporation was a diversified holding company best known as a manufacturer and distributor of professional and consumer [5] fire and burglar alarms.
In 1962, Neison Harris became president, after having worked as an executive at Gillette, at a time when the company was transitioning from a trolley operating company to a diversified concern running multiple businesses. [1] Pittway completed its divestment out transportation in 1964 through sale of trolley operations to the Port Authority of Allegheny County, receiving more than US$16 million for the operations. [2] [nt 1] The demise of the trolley operations could likely be attributed to the rise in personal car purchases. [2]
Neison Harris' brother, Irving B. Harris, also played a significant part in the company. [2] Leo Guthart was previously the company's vice-chairman. [6]
Among the company's acquisitions in the 1960s were Barr-Stalfort Co., an aerosol cans filler company, Alarm Device Manufacturing Co., and Industrial Publishing Co. [2]
It relocated its headquarters to Chicago in 1967. [7][ when?] In 1967, the company was renamed to Pittway Corporation. [8] [9] Later, Pittway became best known as a manufacturer and distributor of the First Alert brand of home smoke alarms, professional fire and burglar alarms, and other security systems, and as a real estate firm. [8] It also owned the fire alarm companies Fire-Lite and Notifier.
By 1968 [update], the company's vice-chairman was C. D. Palmer, who was also the senior executive based in the company's former home town of Pittsburgh. [2]
In the 1970s, specifically in 1977 [update], Pittway and General Electric were the dominant consumer smoke alarm manufacturers. [4] At that time, Pittway units were distributed by Sears. [4] In 1978, the Consumer Product Safety Commission assessed a US$100,000 fine against Pittway for selling smoke detectors which were themselves fire hazards. [10]
Proposed in December 1999 and completed in February 2000, Honeywell acquired Pittway for US$2.2 billion as a play to expand the breadth of their business in its home and building control unit. [1] [3] [11]