Today we’d like to introduce you to Kal Beidas.
Kal, please share your story with us. How did you get to where you are today?
The company was organized on July 11, 1916 as the Schultz Bearing Company with 7,500 square feet of floor space at 213 Institute Place (near Chicago Avenue & Clark Street), Chicago, Illinois. The company began operations in leased quarters with a very modest cash investment and a few machine tools; most of which were made on the premises. In July 1917, the name was changed to the Aetna Ball Bearing Manufacturing Company. In 1919, there were about 50 total employees and all machinery was belt driven and hand operated.
In May 1923, the company had out-grown its facilities and moved into a different quarter at 2745 North High Street, Chicago, Illinois. The new 15,000 square feet of floor space was double the prior area. The January 1928 catalog shows that at that time, ball thrust bearings and ball thrust retainers were being manufactured. Also, at that time, there were 4 people in the front office.
Upon further expansion, Aetna moved to 4600 W. Schubert Avenue in January 1929 with 36,000 square feet of space. The 1931 catalogue indicated that standard and special ball thrust bearings, ball thrust retainers and cylindrical roller bearings were made. In this same year, development work began on clutch release bearings with a patent being granted May 15, 1934 for the Aetna “T” type clutch release bearing.
The Company was privately owned until March of 1937, at which time the common stock was listed on the Midwest Stock Exchange. During the same year, the floor space was increased to 50,000 square feet. Catalogs at this time shows the addition of Angular Contact Clutch Release Bearings plus special types of hardened and ground washers, bushings and bearings.
During World War II, Aetna made propeller blade retention bearings for the Hamilton Standard propellers. These bearings were of the roller thrust type. Other bearings were also made for the Sherman tanks, M-7 tank destroyers, Sikorsky helicopters, and numerous other military applications. We had 3 shifts working with about 600 people.
On February 1, 1954, the Aetna Ball & Roller Bearing Company merged with the Parkersburg Rig & Reel Company to form the Parkersburg-Aetna Corporation. During the same year, Cylindrical Roller Bearings were manufactured. In 1955, the “AG” type bearings were introduced opening up the Farm Equipment market.
On September 27, 1963, Parkersburg-Aetna was purchased by Textron and at that time, the company name was changed to Aetna Bearing Company, a Textron Division.
In 1977, there were a total of 370 employees producing 14 separate product lines for the OEM, Domestic Aftermarket, and International markets.
On April 22, 2017, Aetna Bearing Company was purchased by the Stratford-Cambridge Group with the intent of continuing the rich tradition of innovation and world class manufacturing.
Great, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
We have certainly had our challenges with the most prominent occurring over the past 40 years with the advent of globalization, technological innovation and changing customer expectations. At times, we were successful in anticipating changing market forces and formulating strategies to remain at the forefront. Other times, we were behind the market curve and had to play catch up.
Case in point was the rapid pace of cost pressures in the bearing industry beginning in the 1970’s. As global commerce continued its expansion and the signing of NAFTA in 1993, cost competition had become a very real threat. Till this day, we at Aetna view cost optimizations as a form of innovation, similar to the introduction of a revolutionary new product, and dedicate resources to ensure we offer our customers unparalleled quality at a superior value.
Alright – so let’s talk business. Tell us about Aetna Bearing Company – what should we know?
We manufacture Thrust Bearings, Clutch Release Bearings, Belt Idlers, Sprocket Idlers, and Bearing and Assemblies. We are incredibly proud of the talented and highly trained people at Aetna that are dedicated and passionate about the products we produce and the support we offer our customers. Although we have in business for over 100 years, we operate like entrepreneurs and go out of our way to ensure we make it is easy for our customers to do business with us. The five core principles we live by are:
1. Entrepreneurial Spirit
2. Dedication to Quality
3. Engineering and Technology Driven
4. Listen to the “Voice of the Customer”
5. Team Culture
Our characteristics of remaining un-corporate, un-bureaucratic, and always curious is what sets us apart from others in the industry.
Is there a characteristic or quality that you feel is essential to success?
Businesses that have ongoing relationships with Aetna Bearing Company develop strong foundations that withstand future challenges. The needs of tomorrow may be wildly different from the needs of today, which is why flexibility is always so important. The future requires new solutions and strong partnerships to adapt to an ever-changing environment and we are here to deliver on that commitment.
Our customers are our partners. They become part of the Aetna family and we become part of theirs. One of the most important elements of that relationship – the factor that makes them stand the test of time – is that our customers can rightfully expect ongoing support throughout all business developments.
Contact Info:
- Address: 1081 Sesame Street
Franklin Park, IL 60131 - Website: www.aetnabearing.com
- Phone: 6306940024
- Email: info@aetnabearing.com
