Petersen's first patent was issued in 1916 to George Petersen the grandfather of the current CEO Phil Lundman. The company has stayed in the family since 1916 producing high quality specialty equipment for pipeline and wastewater industries.
Many new product innovations and improvement have been possible due to significant advancement in materials and manufacturing techniques. Advanced materials used by Petersen for specific chemical, temperature, and pressure requirements include Ethyl and Ester Polyurethanes, Ballistic nylon, Nomex, Kevlar, Neoprene, EPDM, Hypalon, Viton Fluoroelastomer, Viton Extreme, and many others. The new very high strength nylons and improvements in polyurethanes were not available just a few years ago. Petersen equipment capabilities include metal working machinery, woven and non-woven pattern cutting, sewing single and multiple stitches with Kevlar, nylon, polyester thread, RF seam welding of polyurethanes, and other weldable materials and extremely high pressure swaging. Advanced sealing systems provide seals impermeability to most gases and liquids. Petersen's proprietary equipment and methods allow the use of the most advanced materials available to make the Petersen's propriatary Multi-Flex™ Plug the most user friendly and longest lasting in the world. Petersen's proprietary manufacturing methods also allows the Petersen team to quickly produce customized pipe plugs to meet the most demanding job specific requirements.
Technology has allowed great product improvements, however, our greatest business asset is loyal, well-informed, competent people of the highest integrity. Our core competencies are invested in a team with many years of accumulated experience including those who have been with the company over 25 years. The company expects and receives commitment to customers, loyalty, energetic work, ingenuity, suggestions, and cooperation from the entire team.
We believe that people were created to work in community and cooperate freely, for the benefit of others. We value individual freedom, initiative, and responsibility and also understand that our individual efforts have a greater value when we work in partnership with others. With Alexis de Tocqueville, we believe that the art of association must continue to develop for civilization to advance. As we all build trusting relationships with customers, vendors, and each other, Petersen will continue to develop as a truly rewarding organization for employees, customers, and investors.
Our first obligation is to people who use our products and services. We desire long-term relationships built on mutual trust. We will work creatively and diligently to develop ever increasing levels of service and quality products to exceed customer expectations. We are committed to serve customers with the highest integrity and acknowledge that customers define our reputation and decide the value of our products and services in the market.
Our vendors are essential partners in serving customers. We have developed long-term vendor relationships based on mutual trust, competence, and a commitment to work together to serve customers with the best values in the market. Our vendors are constantly working with us to improve the value of goods and service we offer our customers.
We are determined to fulfill these obligations to the best of our abilities. Our desire is to follow God's golden rule that requires that we serve everyone, as we want to be served. How we treat customers, vendors, and each other is a direct reflection of our personal and organizational moral character.