In 1868 George W. Yost bought the Corry Machine Shop and reorganized it as the Corry Machine Co. The company again reorganized in 1870 as the Climax Mower & Reaper Co. with F. W. Andrews as president. In 1873 the business was then sold to the Titusville Novelty Iron Works and the name was changed to the Novety Iron Works. Five months later in Dec 1873, the name was again changed to the Gibbs & Sterrett Mfg. Co. with F. H. Gibbs as president. This company went into bankruptcy in 1883 and was bought by Rush S. Battles, who received title in Dec 1884. He immediately changed the name of the company to the Climax Mfg. Co.
Information Sources
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The Climax Locomotive, Oso Publishing 2002