Regal Cutting Tools Celebrates 60 Years

What we call the "Industrial Revolution" was known at the time as "The Age of Steam."

Thomas Savery and Thomas Newcomen first exploited steam devices in the early eighteenth century in England, pumping seepage out of mine shafts.  James Watt then made improvements on these devices and converted them to power sources. Soon after, Richard Arkwright developed a factory system based on his patented cotton spinning machine. This machine would not have gone far if it weren’t for Henry Bessemer’s invention of a furnace that removed carbon from cast iron.  The wooden tines on these spinning machines wore out quickly, but not those made of steel.

In 1955, Beloit Tool Company started in a vacant roller rink. Similar to other earlier entrepreneurs, the founders saw an opportunity to build a business based on the need of manufacturing companies. Many of these companies required rapid service when they were developing a product with special threads.

Company Values Still Held to This Day 

The company quickly expanded due to its philosophy of fast response times to phone calls, requests for quotations, quick shipments and quality tools.. 24 hour shipment of special taps often resulted in long work days—meaning employees often had to shift work schedules in order for these shipments to be accommodated.

In order to retain skilled employees, some unusual perks were provided. Christmas bonuses, stock options and profit sharing lead to happy employees. But it didn’t stop there;  an in-house grocery store was developed, employee hair styling on-site, and gasoline discounts for meeting attendance goals made working long hours more tolerable. There was even a $100 new-baby bonus. The company pioneered the use of incoming 800 telephone service and incorporated UPS overnight services before it became the norm.

Regal Goes Back to Their Roots

Beloit Tool became Regal Beloit in 1969. As the company grew by acquiring other companies, the focus became power transmission equipment, and then electric motors shortly afterwards. The cutting tool operations, though the foundation of this multi-billion dollar corporation, was no longer the company’s main focus. In order to regain its original focus, the company found a buyer who would continue the legacy that was created so many years before.

Regal Cutting Tools is now an independent company owned by a world class cutting tool company, YG-1.