The PREFORMED LINE PRODUCTS CO., a manufacturer of hardware and accessories for electrical and telephone transmission cables, was organized in 1947 by inventor Thomas F. Peterson to produce his preformed spiral armor rod for reinforcing or splicing overhead high-tension cables. The company, located at 1051 Power Ave., had sales of $250,000 after its first year and grew rapidly, purchasing new facilities at 5349 St. Clair Ave. in 1950. Preformed developed products for the construction of electric power and telecommunication systems, and in 1962 the company enjoyed sales of $9 million, employed 500 workers, owned 3 manufacturing plants in Cleveland and another in California; it also had overseas affiliates in the Far East, Europe, and Canada. The firm expanded by acquiring the assets of Ship Services, Inc. in 1964; the Smith Co., a California-based maker of accessories for underground telephone and telecommunication construction, in 1968; and Foundation Instruments, Inc., of Canada in 1980, a maker of fiberoptics systems. In June 1980, Preformed moved into a new headquarters and combined research and engineering center at 660 Beta Dr., MAYFIELD VILLAGE, and the following year, the company's net sales of $77.9 million brought it a net income of $7.956 million. By 1994, Preformed Line Products had net sales figures of over $143 million and a net income of $9.73 million. Within three years, these figures grew to $184.78 million in revenues and $15.24 million in profits. In 2005, Preformed Line Products was headquartered on Beta Dr. in Mayfield and had manufacturing centers in the United States and elsewhere around the world, making the company a leading supplier of hardware for the telecommunications industry.