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      2. CORPORATE INFORMATION

        The Peerless Story

        Peerless Machine & Tool Corporation was founded in 1922 by Mr. John H. Carson. With six employees and 3,000 square feet of shop space he set up business in Marion, Indiana.

        In the early years, the company specialized in repairing machinery for the corrugated board industry. However, it wasn’t long before opportunities in the paperboard converting and forming markets became available. In 1926, the first blank-fed paperboard plate forming machine and tooling were produced. In 1930, the first roll-fed paperboard plate forming machine and tooling were manufactured. Throughout the years many innovations in paperboard converting and forming have been made such as the P-Line of wide roll-fed forming machinery, the M-Series line of narrow and wide roll-fed forming machinery, the Crown Series line of blank-fed forming machinery, the AP Series line of molded pulp egg carton afterpressing machinery, and tooling for all models and applications. Peerless has now transitioned into a 100% employee owned firm via the creation of an Employee Stock Ownership Plan or ESOP.

        Through the Years

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