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At 90, Still Filling Gaps In Workers' Protection; Mine Safety Appliances; Electronic noses to sniff out chemicals are latest addition to product line.(INDUSTRY SNAPSHOT)(TOP OF THE LIST)
Byline: DONNA HOWELL
Mine Safety Appliances Co. has learned to thrive with change. The adaptable firm profits by filling new needs as markets shift.
Despite having to dig out a few times, it has come out on top. And it's among the largest and best-performing firms in the strong security and safety sector.
"We started out in 1914," said CEO John Ryan. "Two mining engineers, my grandfather and a partner, were just sickened by the loss of life in coal mines, and they got Thomas Edison to invent the cap light."
The light made underground work a lot safer. Soon the company's founders turned their attention to other industries to see where simple safety gear could reduce injury.
They found a lot of places -- in manufacturing and firefighting and then in homeland security and the military. The company has branches in 28 countries, does work in 140, and sees sales of about $650 million a year. Revenue growth has accelerated to 20% or higher in each of the last three quarters.
"Particularly, we are good with jobs that are toughest -- when people are in the greatest danger for their life and health," Ryan said.
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