04-29-2015, 02:26 AM
Dan, they are everywhere. PH does not have a specific end market or product line. Rather, like 3M as you mentioned, they are found in so many different products and fields often as parts making up a whole assembly. When I was on my submarine, PH supplied many of the valves, metering assemblies, hoses, fittings, sampling tubing, control assemblies etc. for our vast pneumatic and hydraulic systems that were used for powering the ship through the ocean and firing weapons. When I got out of the Navy and went to work at a power plant, I looked around and saw the same things -- PH parts and pieces of many of the systems to run a complex nuclear plant. Many of the products wear out and need to be replaced from time to time. Not only that, much of their higher value products are all covered by patents. I imagine you'll find their parts in many industries whether it's included in the final product or used in the manufacturing.
Nope, no distinct strategy other than producing well engineered and manufactured products widely available and covered by patents, where possible. One of their advantages is their broad product array. Sure, you can probably get some of their generic O-rings cheaper someplace else but larger industries often would prefer to do business with fewer vendors if the products meet their needs.
I think their management is great. I'm not sure they're looking to be in the spotlight. The numbers speak for themselves. Sure, they take a beating in a recession just as most other manufacturers do. Despite the headwinds in the manufacturing sector, they still do a decent job with earnings and the dividend.
I only know what I've seen and worked with and I've never been disappointed with their products.
Nope, no distinct strategy other than producing well engineered and manufactured products widely available and covered by patents, where possible. One of their advantages is their broad product array. Sure, you can probably get some of their generic O-rings cheaper someplace else but larger industries often would prefer to do business with fewer vendors if the products meet their needs.
I think their management is great. I'm not sure they're looking to be in the spotlight. The numbers speak for themselves. Sure, they take a beating in a recession just as most other manufacturers do. Despite the headwinds in the manufacturing sector, they still do a decent job with earnings and the dividend.
I only know what I've seen and worked with and I've never been disappointed with their products.