|Exchange:||NASDAQ national market|
|Stock:||Franklin Electric Co.|
|Franklin Electric Co., Inc. is an Indiana corporation founded in 1944 and incorporated in 1946. The Company, together with its subsidiaries, designs, manufactures and distributes water and fuel pumping systems, composed mainly of submersible motors, pumps, electronic controls and related parts and equipment. The Company's business consists of two reporting segments based on the principal end market served: the Water Systems segment and the Fueling Systems segment. Water Systems is engaged in the production and marketing of water pumping systems and is a technical leader in submersible motors, pumps, drives, electronic controls, and monitoring devices. The Water Systems segment designs, manufactures and sells motors, pumps, electronic controls and related parts and equipment mainly for use in groundwater, wastewater, and fuel transfer applications. Fueling Systems is engaged in the production and marketing of fuel pumping systems, fuel containment systems, and monitoring and control systems. The Fueling Systems segment designs, manufactures and sells pumps, pipe, sumps, fittings, vapor recovery components, electronic controls, monitoring devices and related parts and equipment primarily for use in submersible fueling system applications. The Company's products are sold by its employee sales force and independent manufacturing representatives. It offers normal and customary trade terms to its customers, no significant part of which is of an extended nature. Special inventory requirements are not necessary, and customer merchandise return rights do not extend beyond normal warranty provisions. The raw materials used in the manufacture of the company’s products are coil and bar steel, stainless steel, copper wire, and aluminum ingot. Major components are capacitors, motor protectors, forgings, gray iron castings, and bearings. Many of these raw materials are available from multiple sources in the United States and world markets. The market for the company's products is highly competitive and includes differentiated accounts by size and type. The Company's Water Systems and Fueling Systems products and related equipment are sold to specialty distributors and some original equipment manufacturers (“OEMs”), as well as industrial and petroleum equipment distributors and major oil and utility companies.|
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