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Ideal was founded in 1916 by J. Walter Becker as the Ideal Commutator Dresser Company in Chicago, Illinois, manufacturing commutator dresser stones. [6] In 1924, Becker relocated the company to its current location in Sycamore, Illinois. [7] By 1949, it had become the United States' leading producer of wire nuts. [8]
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On March 22, 2010, Ideal Industries announced the acquisition of Pratt-Read from bankruptcy. [8] Ideal acquired the Pratt-Read name and equipment and continued production out of existing Ideal facilities, as the Pratt-Read facility in Shelton, Connecticut had already ended operations.
Ideal Standard is a privately held multinational plumbing fixture company headquartered in Belgium. Operating primarily in Latin America and Europe , the brand dates back to 1949, when it was used to brand fixtures of the foreign operations of the American Standard group . [ 1 ]
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The Ridge Tool Company is an American manufacturing company that makes and distributes tools under the Ridgid brand name. The company was founded in 1923 in North Ridgeville, Ohio. [1]
Ideal had earnings of $3.7 million in fiscal year 1979–1980, but lost $15.5 million in fiscal year 1980–1981. (Sales both years averaged around $150 million.) [9] Trying to maximize profits on the Rubik's Cube craze, Ideal filed civil suits in May 1981 against dozens of distributors and retailers selling knockoff cubes. [17]