John Bean Technologies Corporation (JBT): History, Ownership, Mission, How It Works & Makes Money

Ever wondered about the company behind the innovative solutions in food processing and air transportation? Formerly known as John Bean Technologies Corporation, now rebranded as JBT Marel Corporation (JBTM), this global entity has a rich history dating back to 1884. With a reported revenue of $1.72 billion USD in 2024 and a mission rooted in enhancing customer success through technology, what makes JBT Marel a key player in its industries, and how does it continue to evolve?

John Bean Technologies Corporation (JBT) History

John Bean Technologies Corporation (JBT) Founding Timeline

Year established

John Bean Technologies Corporation traces its roots back to 1884.

Original location

The company's origins are in Los Gatos, California.

Founding team members

The company was founded by John Bean, who initially focused on developing and manufacturing agricultural equipment.

Initial capital/funding

Information regarding the specific initial capital or funding for the original John Bean Manufacturing Company is not readily available in the provided search results.

John Bean Technologies Corporation (JBT) Evolution Milestones

John Bean Technologies Corporation (JBT) Transformative Moments

• Shift to Food Processing: The acquisition by FMC in 1928 was a transformative moment, broadening the company's scope from agricultural equipment to include food processing technologies.
• Becoming an Independent Entity: The spin-off from FMC Technologies in 2008, which led to the creation of John Bean Technologies Corporation, marked a pivotal transition, allowing a more concentrated approach to the food processing and air transportation sectors.
• Strategic Acquisitions: Acquisitions like Stork Food Systems in 2015 and Bevcorp in 2023 have significantly enhanced JBT's technological capabilities and market presence, driving growth and innovation.

To gain more insights into the company's financial performance, you might find this resource helpful: Breaking Down John Bean Technologies Corporation (JBT) Financial Health: Key Insights for Investors.

John Bean Technologies Corporation (JBT) Ownership Structure

John Bean Technologies Corporation (JBT) is a publicly traded company with a diverse ownership structure, including institutional investors, individual shareholders, and company insiders.

John Bean Technologies Corporation (JBT) Current Status

John Bean Technologies Corporation (JBT) is a public company, meaning its shares are traded on a stock exchange and available for purchase by the general public. JBT is listed on the New York Stock Exchange (NYSE) under the ticker symbol JBT.

John Bean Technologies Corporation (JBT) Ownership Breakdown

As a publicly traded company, JBT's ownership is distributed among various shareholders. The following table provides an overview of the company’s ownership breakdown:

John Bean Technologies Corporation (JBT) Leadership

The leadership team of John Bean Technologies Corporation (JBT) is responsible for the strategic direction and operational management of the company. Key members of the leadership team include:

• Brian Deck: President and Chief Executive Officer
• Matt Meister: Executive Vice President and Chief Financial Officer
• Baldeep Singh: Executive Vice President and President, Diversified Food and Health

For more insights into the company's goals, check out: Mission Statement, Vision, & Core Values of John Bean Technologies Corporation (JBT).

John Bean Technologies Corporation (JBT) Mission and Values

John Bean Technologies Corporation (JBT) aims to enhance value and serve its customers through technological innovation. The company is committed to integrity, teamwork, and customer satisfaction.

John Bean Technologies Corporation's Core Purpose

Official mission statement

John Bean Technologies Corporation's mission statement is: 'We partner with our customers to provide innovative solutions that improve yield, increase productivity and drive sustainability for the global food and beverage industries.'

Vision statement

John Bean Technologies Corporation's vision statement is: 'To be our customers’ most trusted partner.'

Company slogan/tagline

John Bean Technologies Corporation's slogan/tagline is: 'Solutions and Support for a Growing World.'

For more in-depth information, you can visit: Mission Statement, Vision, & Core Values of John Bean Technologies Corporation (JBT).

John Bean Technologies Corporation (JBT) How It Works

John Bean Technologies Corporation (JBT) operates as a global technology solutions provider to the food and beverage industry, and the aviation industry. The company designs, manufactures, tests, and services technologically sophisticated systems and products.

JBT's Product/Service Portfolio

JBT provides diverse products and services across the food and aviation industries. These are designed to enhance efficiency, safety, and productivity for its customers.

JBT's Operational Framework

JBT’s operational framework is built around providing comprehensive solutions that span the entire production process, focusing on innovation, customer service, and operational efficiency.

• Engineering and Manufacturing: JBT designs and manufactures its equipment using advanced engineering techniques and materials.
• Global Sales and Service Network: The company supports its products through a global network, providing local expertise and support.
• Customer Collaboration: JBT works closely with its customers to understand their unique needs and develop tailored solutions.
• Lifecycle Support: JBT offers aftermarket services, including maintenance, repair, and upgrades, to ensure the longevity and efficiency of its equipment.

JBT's Strategic Advantages

JBT's strategic advantages enable it to maintain a competitive edge and deliver superior value to its customers and stakeholders.

• Technological Innovation: JBT invests in research and development to create cutting-edge technologies.
• Comprehensive Solutions: JBT offers end-to-end solutions, from equipment manufacturing to aftermarket support.
• Global Presence: With operations and service centers around the world, JBT can effectively serve its global customer base.
• Strong Customer Relationships: JBT builds long-term relationships with its customers.

To gain more insights into the core principles that guide the company, explore: Mission Statement, Vision, & Core Values of John Bean Technologies Corporation (JBT).

John Bean Technologies Corporation (JBT) How It Makes Money

John Bean Technologies Corporation (JBT) primarily makes money by designing, manufacturing, and servicing sophisticated equipment and systems for the food and beverage industry, as well as providing solutions for air transportation.

JBT's Revenue Breakdown

JBT operates through two main segments: JBT FoodTech and JBT AeroTech.

JBT's Business Economics

JBT's business economics are driven by several key factors:

• Pricing Strategies: JBT employs value-based pricing, reflecting the efficiency and productivity gains their equipment offers to customers. They also utilize long-term service agreements that provide recurring revenue.
• Economic Fundamentals: The demand for JBT's products is influenced by global food production, air travel volume, and capital spending cycles within the food processing and aviation industries. Emerging markets and increased automation trends also drive growth.
• Cost Structure: JBT manages costs through global sourcing, lean manufacturing, and continuous improvement initiatives. Investments in R&D support product innovation and differentiation.

To gain more insight into the core values that guide JBT's operations, check out Mission Statement, Vision, & Core Values of John Bean Technologies Corporation (JBT).

JBT's Financial Performance

Key aspects of JBT's financial performance include:

• Revenue Growth: JBT has demonstrated consistent revenue growth through organic expansion and strategic acquisitions. For example, in the fiscal year 2024, JBT reported revenue of approximately $1.8 billion.
• Profitability: The company maintains healthy profit margins through efficient operations and a focus on higher-value solutions. Gross profit for 2024 was approximately $630 million, representing a gross margin of about 35%.
• Cash Flow: JBT generates strong cash flow from operations, which supports investments in growth initiatives and returns to shareholders. In 2024, JBT's cash from operations was approximately $200 million.

John Bean Technologies Corporation (JBT) Market Position & Future Outlook

John Bean Technologies Corporation (JBT) holds a significant position in the food and beverage processing industry, as well as in the air transportation sector, with a focus on providing technology solutions and services. The company's future outlook appears stable, driven by continuous innovation, strategic acquisitions, and expansion into emerging markets.

Competitive Landscape

Opportunities & Challenges

Industry Position

John Bean Technologies Corporation (JBT) maintains a strong industry position through:

• Technological Innovation: Investing in R&D to develop cutting-edge solutions that meet evolving customer needs.
• Strategic Partnerships: Collaborating with other industry players to expand market reach and enhance service offerings.
• Global Footprint: Establishing a presence in key markets worldwide to serve a diverse customer base.

For more detailed insights into the financial health of John Bean Technologies Corporation, you can explore: Breaking Down John Bean Technologies Corporation (JBT) Financial Health: Key Insights for Investors