Product Innovation is at the Core of our Business
Since 1951, true product innovation has been the organic growth driver of our business and will continue playing that instrumental role in the strategy-focused segments.
The history of Piab Group
It all started with an invention
The ratio of a circle’s circumference to its diameter is always pi (≈3.14). Piab’s founder Sven Tell must have spent a good amount of time mulling over this mathematical formula when he developed his unique drawing compass. It also prompted the company name – “Pi” and “AB,” which is the Swedish word for Incorporated (Inc). That was back in 1951 and Piab has been coming up with new inventions throughout the decades ever since.
Our growth journey
By 1968, Sven’s son, Peter Tell, had founded Piab’s vacuum division, which formed the basis for today’s company. He invented the first vacuum product, the PmS-Pistol. Piab’s first multistage vacuum ejector laid the foundation for a wide range of vacuum products that were to follow in the 1970s. With this new technology, Piab began expanding beyond Sweden, eventually becoming a global company with distributors and subsidiaries worldwide.
Other products like vacuum pumps, suction cups and vacuum conveyors, were added to the product line in subsequent decades and in recent years, multiple acquisitions have helped to expand the offering even further. Today, Piab Group also offers lifting and robotic gripping solutions which complement the company’s traditional vacuum automation and vacuum conveying solutions.
Innovation is continuously increasing
Piab Group has registered more than 65 patents over the years and the pace of innovation is continuously increasing along with the demand for automated solutions. As Piab Group takes the lead in the industry, research and development is as important as ever, and we will continue to provide our customers with progressive gripping, lifting and moving solutions that help them evolve.
Our inorganic growth stems from acquiring several successful companies in the last years. These acquisitions are targeted to strengthen existing segments as well as expand into new territories to maintain our position as a world-leading industrial automation company.
A great home for great companies
Peter Tell and his family sold Piab in 2006, and today Piab Group is fully owned by Patricia Industries, part of Investor AB.
The company still nurtures a family-feel culture. The familial feel alongside the spirit of innovation and entrepreneurship remains at the heart of the company.
Piab Group will always continue to follow its inner compass.
