SearchVoatBot ago

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MercurysBall2 ago

In 1967 Smith Corona Marchant (SCM) Corporation bought the Allied Paper Corporation for $33M

Logo of Allied Paper https://imgur.com/a/WzEdvES

The new paper-making division was named SCM Allied Paper.

In 1986, SCM was bought by Hanson plc, a British conglomerate, but they had no interest in the paper business, which was no longer as profitable as it had been in the past decades. .. All the mills were quickly put on sale.

Hanson https://en.wikipedia.org/wiki/Hanson_(company)

Hanson Limited, formerly Hanson Trust plc, is a British based international building materials company, headquartered in Maidenhead. The company has been a subsidiary of the German company HeidelbergCement since August 2007.

Hanson was built up by James Hanson, later Lord Hanson, and Gordon White, later Baron White of Hull, who set up Hanson Trust in 1964.[1]

Hanson and White were willing to take a wide range of measures to do so, including mass redundancies, and therefore attracted opposition and accusations that they were asset strippers,[2] but from 1979 the company was successful from the shareholders' point of view and respected during the early 1980s, with Hanson (who gave millions of pounds to the Conservatives) admired by Margaret Thatcher.

One of the most notable takeovers, at least to the general public, was the acquisition in 1983 of the United Drapery Stores,[2] or UDS Group, which owned many of Britain's most well known high street clothes shops and department stores, including John Collier, Richard Shops and the chain of Allders department stores. To fund this purchase, Hanson broke up UDS and sold John Collier to a management buy out team, and Richard Shops to Habitat, keeping only the core department store business.

In January 1986, Hanson bought SCM, an American chemicals to typewriters business. This included the paper division that was formerly the Allied Paper Corporation. Hanson sold most of the SCM business units and the headquarters building in New York City for a significant profit.

See: EPSTEIN, HANSON, ROTHSCHILD, THATCHER ...

[archived: http://archive.is/nctLi]

derram ago

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