TECNICO: 1942-1959 - Who Were They? - OutdoorKing Repair Forum

TECNICO: 1942-1959 - Who Were They? #51678 20/12/13 07:26 AM
Joined: Nov 2013 Posts: 6,938 Likes: 303 Tasmania CyberJack Forum Historian
Hello ODK History Lovers, The Tecnico Company had a long heritage and its contribution to vintage mower history has been all but forgotten in the history books. If for one single thing, they should be remembered for their manufacturing Australia's first rotary mower - the 10" electric in 1948. This was four years before the iconic Victa entered the scene! In this series of posts I would like to attempt to set the record straight. Tecnico was first registered in 1918 as the Eastern Trading Co., Ltd. It is a company that weathered the Depression with ups-and-downs. It had always been an electrical company, making amongst other things, capacitors. These were used in radios and other electronic applications. In 1937 it changed its name to E.T.C., believing that the then current name was "misleading, as it did not deal with Eastern goods." [Sydney Morning Herald, 12 October 1937, p13.] TECNICO In 1942 E.T.C. changed its name to Tecnico. From then on things looked up. Tecnico was heavily involved in war production, producing magnetos for aircraft and servicing of the same for all allied Air Corps. POST WAR Post War, Tecnico was efficient in mowing to civilian production. In many ways, this was their golden age of opportunity. The loss of defence contracts post-war was compensated for by, "production of civilian requirements in the radio and electrical fields." [The Argus (Melbourne) 12 April 1946, p19] From late 1946 Tecnico embarked on an expansion project internationally. This was "a company experiencing rapid growth" and the company complained of high taxation that prevented the building of "adequate reserves". [Sydney Morning Herald 11 October, 1946, p8] By 1947 the company employed 600-700 staff at Marrickville and it was manufacturing domestic electrical appliances, aircraft electrical equipment and radio component parts. [The Advertiser (Adelaide) 19 February 1947, p14] By late 1947 Tecnico was a respected radio manufacturer and it was seeking new lines of production to augment its post-war production line-up. Interestingly, James N. Kirby, the famous CEO of Kirby Engines fame, joined the Board at this time. By 1948, Tecnico was still expanding, with a new issue of shares announced. Tecnico also announced "the issue and underwriting of new shares to finance expansion" . . . "In conjunction with the largest condenser maker in England". [The company was the Telegraph Condenser Co. Ltd.] [Sydney Morning Herald 30 October, 1948, p4] In November of 1948 newspaper advertisements began to appear in Australian newspapers - for Tecnico electric rotary mowers! Pre-orders were being canvassed for December delivers in Australian States. [see next post] Tecnico continued its expansion programme, not just domestically, but in export markets. By 1951 Tecnico was making good profit, still expanding, and was offering its works incentive schemes. With the American Bendix Aviation Corp. it entered a joint venture, forming Bendix-Tecnico Pty. Ltd. In early 1952, Tecnico had acquired F.W. Davey Pty. Ltd, a leading Melbourne electrical company. THE DOWNTURN By late 1952 things were going not so well. This was put down to increased overseas competition and the higher inflationary costs here. By early 1953 Tecnico was reporting substantial losses. THE DEMISE Things did improve slightly in 1954, but this did not permit dividends to be paid. I think at this point there appears to be instability in the company with reported resignations from the board. In 1955 James N. Kirby was appointed Chairman. THE TAKEOVER Kirby's appointment may have been fortuitous. Tecnico could not pay a dividend again in 1955. It's loss by year's end was in the order of 111 thousand pound! It was in this climate that the British Pye Company made an offer that Tecnico directors "strongly recommended" shareholders accept. This was accepted in late 1955 and by 1956 the company became Pye-Tecnico. On June 1, 1959, Pye-Tecnico became Pye Industries.
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