Diamond Chain Company

Wilbur and Orville Wright's first flight might never have succeeded without an assist from Amsted Industries' Diamond Chain subsidiary. A maker of bicycle and industrial roller chains, Diamond produced the propeller chain for the Wright brothers' aircraft. Amsted Industries' three different segments manufacture highly engineered industrial components for locomotive and railcar makers, automotive OEMs, and construction and building suppliers. It is a major force in making freight car undercarriages, too. Main subsidiaries include ASF-Keystone, Griffin Pipe Products, Griffin Wheel, and Means Industries. Employee-owned, Amsted Industries runs about 50 plants in 11 countries.

Operations

Amsted Industries' operations benefit from a history of making cast-steel components, including wheels and tapper roller bearings for railroad companies, and a variety of vehicular parts, such as steering and transmission components. Amsted Industries' construction and industrial lines feature pressure and sewer pipe, and cooling towers and evaporative condensers.

Strategy

The company's expertise has evolved through acquisitions of complementary businesses, and partnerships with companies in promising markets. Amsted Industries holds, for example, a 50/50 stake in Amsted Maxion, a joint venture with Iochpe-Maxion. The Brazilian partner manufactures metal transport and railroad parts; its tie-up has opened the door for Amsted Industries to supply Latin American demand.

Company Background

Founded as American Steel Foundries in 1902, the company united the strength of eight steel foundries across the East and Midwest. In 1962 the company decided to emphasize its manufacturing diversity, and changed its name to Amsted Industries.