Businessweek

Raven Industries, Inc., a technology company, provides various products to customers within the industrial, agricultural, energy, construction, and military/aerospace markets. The company markets its products worldwide and has its principal operations in the United States of America. Segments The company operates through three segments: Applied Technology Division (Applied Technology), Engineered Films Division (Engineered Films), and Aerostar Division (Aerostar). Applied Technology This segment designs, manufactures, sells, and services precision agriculture products and information management tools worldwide. This segment’s product families include field computers, application controls, GPS-guidance and assisted-steering systems, automatic boom controls, yield monitoring planter controls, and an integrated real-time kinematic navigation and information platform called Slingshot. As a result of the realignment of the company's Electronic Systems Division, these product families also include motor controls. The company's investments in Site-Specific Technology Development Group, Inc., a software company, and the continued build-out of the Slingshot API platform have positioned this segment to provide an information platform of choice that improves grower decision-making and business efficiencies for its agriculture retail partners. This segment sells its precision agriculture control products to both original equipment manufacturers and through aftermarket distribution in the United States and in various major agriculture areas worldwide. Engineered Films This segment produces plastic films and sheeting for industrial, energy, construction, geomembrane, and agricultural applications. The company's sales force sells plastic sheeting to independent third-party distributors in each of the various markets it serves. Aerostar This segment designs and manufactures high-altitude research balloons, tethered aerostats, and radar processing systems. These products could be integrated with additional third-party sensors to provide research, communications, and situational awareness to government and commercial customers. This segment’s sales to the U.S. government or the U.S. government agencies as a prime or sub-contractor include military parachutes, uniforms, and protective wear. It also manufactures other sewn and sealed products on a contract basis. Through the acquisition of Vista Research, Inc. (Vista) and a separate business venture that is majority-owned by the company, this segment pursues product and support services contracts for agencies and instrumentalities of the U.S. government. The acquisition of Vista in 2012 positioned the company to meet improving global demand for detection and tracking systems used by government and law enforcement agencies. As a provider of surveillance systems that improve the effectiveness of radar using algorithms, Vista would also allow Aerostar to improve its tethered aerostat security solutions. Customers The company’s major customers include West Texas Plastics Limited and Goodrich Corporation. Seasonality Applied Technology builds product in the fall for winter and spring delivery. Certain sales to agricultural customers offer spring payment terms for fall and early winter shipments. History Raven Industries, Inc. was founded in 1956. The company was incorporated in 1956 under the laws of the state of South Dakota.