Lindsay Corporation

Lindsay Corporation (NYSE: LNN), formerly known as Lindsay Manufacturing Co., is a manufacturer of Zimmatic brand center pivot irrigation systems, based in the U.S. state of Nebraska. It also manufactures farm and construction machinery, as well as road and railroad infrastructure equipment. The company states that it has a market capitalization of $547,584,000.[5] At August 31, 2008, the company had 1,239 employees.[6]

Lindsay Corporation
NYSE: LNN
S&P 600 Component
IndustryManufacturing, Agriculture
Founded1955
FounderPaul Zimmerer and Sons
Headquarters
Omaha, Nebraska
,
United States
Key people
Michael N. Christodolou
Chairman
Timothy Hassenger (CEO)
ProductsCenter Pivot Irrigation, Tubing, Railroad Signal Infrastructure, Moveable Barrier Systems, Crash Cushions
ServicesContract Manufacturing
Revenue$478,900,000[1] (2011)
$56,600,000[2] (2011)
$36,800,000[3] (2011)
Total assets$381,144,000[4] (2011)
DivisionsIrrigation, Infrastructure
SubsidiariesBarrier Systems Inc., Snoline, Watertronics
WebsiteLindsay Corporation

History

The company was founded in 1955 in Lindsay, Nebraska. Corporate headquarters are in Omaha.

In 1992, Gary Parker of Lindsay Manufacturing Co. was named to the National Agri-Marketing Association Agribusiness Leader of the Year honor roll.[7] Parker had started working at Lindsay Manufacturing in 1971, and went on to become the president in 1984 and the CEO in 1989. He retired from the position of CEO in 2000 at the age of 54.[8]

On October 21, 1997, the company's shares began to be traded on the New York Stock Exchange.[9][10] The company's shares form part of the Palisades Water Index's US Water Index.[11]

In 2002, Howard G. Buffett was elected chairman of Lindsay Manufacturing. He had been a director of the company since 1995.[12] Since January 21, 2003, the company's chairman has been Michael N. Christodolou.

In 2004, the company's African unit acquired Stettyn, a manufacturer of center pivots based in Bloemfontein, South Africa.[13]

In June 2006, Lindsay acquired Barrier Systems Inc.[14] which was founded in 1985 and developed the Quickchange Moveable Barrier (QMB) which helps control and manage traffic by adding lanes to a roadway during periods of heavy traffic and then removing the added lanes when the traffic influx is reversed.

On January 25, 2008, the outstanding shares of stock of Watertronics, Inc, based in Hartland, Wisconsin, were purchased by Lindsay. Watertronics is a leader in designing, manufacturing, and servicing water pumping stations and controls for the golf, landscape and municipal markets.[15]

On November 3, 2010, Lindsay acquired WMC Technology Limited.[16] The Colyton, New Zealand based company created the first commercially available variable-rate irrigation system in 2008, which uses solenoid valves to vary the amount of water applied under a center-pivot irrigator.

On April 27, 2017 Lindsay added FieldNET Advisor to its existing FieldNET platform, which uses a crop growth model to provide irrigation scheduling and recommendations to growers.[17]

References
  1. "Archived copy". Archived from the original on 2012-04-27. Retrieved 2011-12-13.CS1 maint: archived copy as title (link)
  2. http://www.b2i.us/profiles/investor/NewsPDF.asp?b=1278&ID=47986&m=rl
  3. "Archived copy". Archived from the original on 2012-04-27. Retrieved 2011-12-13.CS1 maint: archived copy as title (link)
  4. http://www.b2i.us/profiles/investor/NewsPDF.asp?b=1278&ID=47986&m=rl
  5. "Company profile". Lindsay Corporation. Archived from the original on 2 March 2010. Retrieved 13 January 2010.
  6. "2008 Annual Report". Lindsay Corporation.
  7. "National Agri-Marketing Association Agribusiness Leader of the Year * honor roll". Agri Marketing. May 1, 2003. Retrieved 13 January 2010.
  8. Flyr, Michelle (December 2, 1999). "Lindsay's Parker announces retirement". Columbus Telegram. Retrieved December 10, 2015.
  9. "Lindsay Corporation". New York Stock Exchange. Archived from the original on 15 January 2010. Retrieved 13 January 2010.
  10. "Lindsay Manufacturing to Commence Trading on the New York Stock Exchange". Press Release. Lindsay Manufacturing Co. October 20, 1997. Retrieved 13 January 2010.
  11. "Palisades Water Index - ZWI". NYSE Amex. Retrieved 13 January 2010.
  12. "Lindsay Manufacturing Names Chairman". The Wall Street Journal. February 5, 2002. Retrieved 13 January 2010.
  13. "Lindsay Manufacturing Co.(global business notes)(Lindsay Manufacturing Africa (Pty) Ltd, has acquired Stettyn)(Brief Article)". Diesel Progress North American Edition. July 1, 2004. Retrieved 12 January 2010.
  14. http://www.lindsay.com/#/Divisions/Infrastructure/BarrierSystems
  15. "Archived copy" (PDF). Archived from the original (PDF) on 2012-04-23. Retrieved 2011-12-13.CS1 maint: archived copy as title (link)
  16. "Company Acquisition Announcement". Archived from the original on 2011-03-21. Retrieved 2018-01-10.
  17. "Introducing FieldNET Advisor™". Retrieved 2018-01-11.

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