Two companies that buy various Franklin Electric products are Pentair and ITT. The company’s is well-known since it offers its products in every continent. In addition, it’s a public traded company, and currently its stock price is up 0.9% according to nasdaq.com.
As any other company, Franklin does it have its competitors. Franklin Electric company’s competitors consist of: A.O. Smith Corporation, Baldar Electric Company, Lincoln Electric Company, MagneTek Inc., and Owosso Corporation. The competitors don’t have much of a major advantage as Franklin continues to produced more motors than its competitors On an annual basis. In addition, it was ranked amongst the top 1000 companies by Fortune. The company does primarily focus on creating products such as astewater pumps; sump, sewage, effluent pumps; dewatering and trash pumps. In addition, its secondary focus is on the fueling system such as tanks, pumps, and electronic controls.
Undoubtedly, the company has many opportunities to expand. The company has recently acquired 75% of outstanding shares of Vertical company, located in Italy, for cash. The company believes that the transaction will attract more earnings of share. In addition, Vertical Company had the net value of 20 million Euros prior to the acquisition. Clearly, this enables Franklin Electric to increase its share, and dominate in its market. No company can keep up with Franklin Electric since this acquisition allows Franklin Electric to introduce steel pumps that were manufactured by Vertical. The competition although is stiff, has not came up with any new products as it focuses on water heaters and electric heaters. Most of the competition does not branch to fueling systems as Franklin Electric does. Franklin Electric continues to have advantage due to its broad product line and its persistence to acquisitions. Thus, the competition is in disadvantage at this point.
Recently, Franklin Electric continues to improve its