COMPANY·HISTORIES
SIC 3511

Steam, Gas & Hydraulic Turbines & Turbine Generator Set Units

How the companies in this industry began, and the forces that shaped them.

11companies1829–1988founding years11still active0no longer operating
§ 01

The industry over time

Companies foundedEconomyTechnologyEnvironmentHistory
FoundedVickers plc
1829
FoundedJ.M. Voith AG
1867
FoundedStewart & Stevenson Services Inc.
1902
FoundedHowmet Corp.
1903
TechnologyThe Wright brothers achieve powered flight.
1914
EconomyWorld War I begins; global trade reorders.
FoundedAllison Gas Turbine Division
1915
FoundedAlliedSignal Inc.
1920
1929
EconomyThe stock market crashes; the Great Depression spreads worldwide.
FoundedKubota Corporation
1930
1939
EconomyWorld War II begins; wartime production surges.
1945
EconomyThe war ends; a long global expansion begins.
1947
TechnologyThe transistor is invented.
FoundedThermo Electron Corporation
1956
1958
TechnologyThe integrated circuit is demonstrated.
1962
EnvironmentSilent Spring launches the modern environmental movement.
FoundedBFC Construction Corporation
1969
1971
EconomyThe dollar leaves the gold standard; currencies float.
1973
EconomyThe OPEC oil embargo triggers a global shock.
1975
TechnologyThe personal-computer era begins.
1979
EconomyA second oil crisis drives inflation higher worldwide.
1981
TechnologyThe IBM PC launches and sets a standard.
1984
TechnologyApple ships the Macintosh; the GUI era begins.
FoundedJason Incorporated
1985
1987
EconomyBlack Monday: markets fall sharply around the world.
FoundedABB Asea Brown Boveri Ltd.
1988
1989
HistoryThe Berlin Wall falls; global markets open up.
1991
TechnologyThe World Wide Web is released to the public.
1993
TechnologyThe Mosaic browser brings the web to everyone.
1995
TechnologyWindows 95 launches; the internet goes mainstream.
1997
EconomyThe Asian financial crisis rattles global markets.
EnvironmentThe Kyoto Protocol sets the first climate targets.
2000
EconomyThe dot-com bubble bursts.
2004
TechnologySocial media and Web 2.0 take hold.
2007
TechnologyThe iPhone launches the smartphone era.
2008
EconomyThe global financial crisis freezes credit worldwide.
2010
TechnologyCloud computing goes mainstream for business.
2015
EnvironmentThe Paris Agreement sets global climate targets.
2020
EconomyThe COVID-19 pandemic upends the global economy.
2022
EconomyInflation spikes; central banks raise rates sharply.
2023
TechnologyGenerative AI reaches mainstream business use.
§ 02

The companies

Vickers plc →
Active · founded 1829 · England
One of the central figures in British industrial history, Vickers plc of England was reorganized in 1998 to produce an…
J.M. Voith AG →
Active · founded 1867 · Germany
J.M.
Stewart & Stevenson Services Inc. →
Active · founded 1902
Stewart & Stevenson is one of the world's leading suppliers of power systems and related mechanical equipment.
Howmet Corp. →
Active · founded 1903
Howmet Corporation, a wholly owned subsidiary of Pechiney International, produces high-technology components used in…
Allison Gas Turbine Division →
Active · founded 1915
The Allison Gas Turbine Division of the General Motors Corporation is one of the largest manufacturers of aircraft…
AlliedSignal Inc. →
Active · founded 1920
AlliedSignal Inc., formed from the acquisition of Signal Companies, Inc.
Kubota Corporation →
Active · founded 1930 · Japan
Kubota Corporation prides itself on being flexible and adjusting as necessary to compete under changing economic…
Thermo Electron Corporation →
Active · founded 1956
Thermo Electron Corporation is a leading innovator in the practical application of heat science and energy conversion…
BFC Construction Corporation →
Active · founded 1969 · Canada
BFC Construction Corporation is one of Canada's largest construction companies.
Jason Incorporated →
Active · founded 1985
Jason Incorporated is a miniconglomerate, active in three distinct business segments--motor vehicle products, power…
ABB Asea Brown Boveri Ltd. →
Active · founded 1988 · Switzerland
Formerly fierce competitors in the heavy-electrical and power-generation fields, Sweden's ASEA AB (which changed its…
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