In 1873, Clifford E. Lipe graduated from Cornell University and soon perfected the Corn Broom machine for sewing brooms which he patented in August 1877 (Patent #189240). In 1880, he opened the C.E. Lipe Company to manufacture general and specialty machinery at 208 Geddes Street, Syracuse, NY.
In 1895, the Department of Railway Roller Bearing Company was created within the C.E. Lipe Company and in 1908 was incorporated as the Railway Roller Bearing Company. The Railway Roller Bearing Company expanded steadily during World War I, producing general-purpose roller bearings for heavy duty equipment used in steel, pulp and paper mills. Some of the first bearings were used in trolley cars for the Syracuse Rapid Transit line.
On February 17, 1916, Clifford E. Lipe died and, in 1917, Clifford's estate was inherited by his son, Willard, who changed the company name to W.C. Lipe, Inc. .
In 1923, the Railway Roller Bearing Company was renamed the Rollway Bearing Company, Inc.
In 1942, W.C. Lipe Inc. changed its name to the Lipe-Rollway Corporation and purchased Rollway Bearing Company.
In 1996, the Lipe-Rollway Corporation was acquired by Emerson Electric Company and became part of Emerson Power Transmission Corporation.
In 1999 the Lipe-Rollway bearings business was diversified from Lipe-Rollway Corporation, and the name of the bearings business became Rollway Bearing Corp. The remaining automation business became Lipe Automation Corporation, which was later dissolved.
In 2015, Emerson Power Transmission Corporation (Power Transmission Solutions) was acquired by Regal Beloit Corporation.