Rheem is a privately held manufacturing company that began operation in 1927 as a supplier of packaging to the petroleum industry. In the 1930's, Rheem began manufacturing water heaters, and in 1947 began manufacturing warm air furnaces. In 1959, the company acquired Ruud Manufacturing Company, a pioneer in the industry with a well-regarded product line and a distribution network throughout North America. In subsequent years, Rheem entered the heating and air conditioning market and expanded in the late 1960's and 1970's with the rapid growth of the central air conditioning industry. In 1985, the company acquired Raypak, a leading producer of copper tube boilers used for swimming pool heating and commercial hot water supply and hydronic heating.