Georg Fischer

Georg Fischer transformed from an 1802 iron foundry into a $4B+ industrial conglomerate through strategic focus on piping systems and machining solutions. The company's survival for 222 years required repeatedly divesting legacy businesses (automotive castings sold 2021) to fund growth in higher-margin segments. GF's piping systems division dominates niche applications - semiconductor water systems, pharmaceutical clean utilities, industrial process piping - where material expertise (plastics, corrosion resistance, precision) creates switching costs. The machining division supplies automation and cutting tools to automotive and aerospace manufacturers. This portfolio strategy - multiple B2B niches rather than consumer products - provides diversification while avoiding commodity competition. GF proves that in industrial manufacturing, longevity requires continuously pruning the past to fund the future.