Clark Equipment Overseas Finance Corporation

Product Details

Historical Context

Clark's predecessor was the George R. Rich Manufacturing Company, founded in 1903 in Chicago, Illinois by executives of the Illinois Steel Company.

The company moved to Buchanan, Michigan in 1904 when that city's chamber of commerce advertised a financially sound deal with respect to industrial rent and power supply.

Eugene B. Clark, an Illinois Steel employee at the time, determined that the metallurgy of Rich Manufacturing's principal product, a railroad rail drill named the Celfor Drill, was faulty, and also found fault with both the management and basic operations, which he ultimately corrected after the condition of him becoming an equal partner was established.

In 1916 he merged Rich Manufacturing, which by then had been renamed Celfor Tool, and Buchanan Electric Steel Company, an offshoot of the former, and formed Clark Equipment Company, named after Clark.

In 1919 a division called Clark Tructractor Company was formed. This still exists as Clark Material Handling Company.

From the 1920s until the 1960s, Clark made many acquisitions and continued to grow as a company, but in the 1960s and again in the 1980s, many were sold.

In 1935-1936, Clark built a one-of-a-kind aluminum body trolley (a PCC streetcar) that ran in Brooklyn and Queens, New York, until 1956. This trolley is preserved at the Trolley Museum of New York and is listed on the New York State Register of Historic Places.

In 1995, Clark was acquired by Ingersoll Rand.

In 2007, Ingersoll Rand sold Clark Equipment Company to Doosan International of South Korea. The sale included the Construction Equipment Group of Ingersoll Rand. The Construction Equipment Group included Bobcat, Portable Air Compressors, Generators, Light Towers, and Construction Equipment Attachments.

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