When Cooper and Bessemer merged in 1929, the new company became a leading U.S. manufacturer of diesel engines and compression systems. Cooper-Bessemer formulated aggressive plans for growth but the stock market crash of 1929 and the Great Depression that followed put the company’s plans for expansion on hold. During this period, Cooper’s stock lost 98% of its value and annual sales dropped 90%, to less than one million dollars. New orders slowed to a trickle and the next few years proved to be some of the most challenging in the company’s history. Despite the difficulties during this period, Cooper’s leadership team remained optimistic and continued to invest in technology to position the company for success when the economy rebounded.

In the early 1940’s, the onset of World War II and military contracts for diesel engine production brought Cooper’s factories roaring back to life. Cooper-Bessemer engines passed the U.S. Navy’s rigorous testing standards and powered almost all of the ships in their minesweeper fleet. Cooper also worked with a consortium of other manufacturers to produce the engines for the famous “Liberty Ships” (shown in the picture above) which carried 75% of the cargo used by the U.S. armed forces during World War II. As a result of these efforts, Cooper received a “Maritime M” award from the U.S. Navy for outstanding production of diesel engines and components. In addition to this manufacturing contribution, 1,200 Cooper employees who were draft-exempt chose instead to enlist and fought in the war.

When the war ended in 1945, revenue from military contracts slowed and Cooper knew it would have to once again adapt to a changing world. As a result, the engineering department ramped up new product development and made improvements on existing designs. Management also committed more resources to expanding the reach of Cooper products to markets in the United Kingdom, Western Europe, Central America and Canada. In the years that followed, the company executed a strategy that transformed Cooper from a domestic engine manufacturer into a leading global supplier of industrial products.